EURGBP trade ideas
EURGBP: Long Trade with Entry/SL/TP
EURGBP
- Classic bullish pattern
- Our team expects retracement
SUGGESTED TRADE:
Swing Trade
Buy EURGBP
Entry - 0.8235
Stop - 0.8216
Take - 0.8272
Our Risk - 1%
Start protection of your profits from lower levels
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EURGBP EURGBP is in a descending channel between the trend lines.
We think that the price will continue to decline.
Share your opinion in the comments and support the idea with like. Thanks for your support!
EURGBPEURGBP is in a descending channel between the trend lines.
We think that the price will continue to decline.
Share your opinion in the comments and support the idea with like. Thanks for your support!
Correction It is expected that the price will rise up to the resistance range, then according to the price behavior in this range, possible scenarios have been determined.
EURGBP 17/12/2024Weekly:
-Next PD array is the weekly low.
Daily:
-Bearish W pattern.
4H:
-Bearish W pattern.
-IC.
-H&S pattern.
EURGBP Wave Analysis 17 December 2024
- EURGBP reversed from resistance level 0.8300
- Likely to fall to support level 0.8225
EURGBP currency pair recently reversed down from the key resistance level 0.8300 (former strong support from October) intersecting with the 61.8% Fibonacci correction of the downward impulse from November.
The downward reversal from the resistance level 0.8300 continues the active short-term impulse wave (v) from the middle of November.
Given the strong daily downtrend and bullish sterling sentiment seen today, EURGBP currency pair can be expected to fall further to the next support level 0.8225 (low of the previous impulse wave i).
EurGbp Completed 4 legs to break the WedgeWhat I see!
Looking for Impulse Up.
EurGbp formed wedge pattern and it will try to break soon. Make sure you have your own rules on RR and follow them. This is just a trading idea to help you/ give better knowledge. If you have any question ask me in comments.
Learn & Earn!
DeGRAM | EURGBP decline in the channelEURGBP is in a descending channel between the trend lines.
The chart maintains a downward structure.
We think that the price will continue to decline.
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Bullish bounce?EUR/GBP is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance which is a pullback resistance.
Pivot: 0.8268
1st Support: 0.8224
1st Resistance: 0.8325
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EUR/GBP LONGno text needed everything is drawn, this is not a financial advice but just an idea be careful !
EURGBP BUY PROJECTION We can see price has clearly broken out of the downtrend, causing a change of character which we can see price break structure and returned to go long. Already in profits
Eurgbp buy Resistance has not been able to pass 0.82530 , which means it’s a long and we can easily catch 40-50 pips however long term it can reverse
Bullish bounce off 50% Fibonacci support?EUR/GBP is falling towards the support level which is a pullback support that lines up with the 50% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 0.8269
Why we like it:
There is a pullback support level that lines up with the 50% Fibonacci retracement.
Stop loss: 0.8223
Why we like it:
There is a pullback support level.
Take profit: 0.8329
Why we like it:
There is an overlap resistance level.
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Possibility of uptrend The price is expected to fluctuate above the support range and then continue the upward trend until the specified resistance levels are formed.
EURGBP RETRACESFUNDAMENTAL VIEW
On Monday, December 16, 2024, Eurozone data showed mixed results. French manufacturing PMI fell short of expectations, recording 41.9 compared to a forecast of 43.2, while service PMI improved to 48.2, surpassing the 46.9 forecast. Similarly, Germany reported manufacturing PMI at 42.1 against an expected 43.1, while service PMI outperformed, coming in at 51.4 compared to 49.5.
While In the UK, PMI data also reflected mixed outcomes. Manufacturing PMI registered 47.3, below the 48.4 forecast, while service PMI came in stronger at 51.4, beating the 50.9 forecast. As a result, EUR/GBP retraced during the European session, currently down 0.27% daily and weekly and 0.04% monthly.
Looking ahead of the week, key UK data releases include:
• Tuesday, December 17th 11:00 AM GMT+4: Claimant Count Change (forecast: 28.2k).
• Wednesday, December 18th 11:00 AM GMT+4: CPI y/y (expected increase of 0.3%).
• Thursday, December 19th: Interest rate decision (forecast: maintained at 4.75%).
• Friday, December 20th: Retail sales m/m.
These releases could significantly impact market movements
TECHNICAL VIEW:
EUR/GBP was in a broader downtrend but recently broke above the red trendline following last week’s impulsive move. The pair is currently retracing and moving toward the 32.8% Fibonacci retracement level at 0.8286, which aligns with the broken trendline providing a strong confluence zone. If this level is cleared, the next potential targets are the 50% Fib level at 0.8274, followed by the 61.8% level at 0.8263. Conversely, the pair could aim the previous peak at 0.8327 and possibly 0.8355. More so, price is currently trading above EMA 50. Breakout of these zones isn’t ruled out.
EURGBP: 1M PP Support Key to Avoid Further DownsideHello,
OANDA:EURGBP has driven the price upwards, and now the 1M PP must hold as support. If it fails to do so, further downside could be likely. It's important to remember that the pair is still largely under bearish influence, and maintaining a cross and lock above the 1M PP is essential to avoid more downside. Despite the underlying conditions, the current sentiment remains strongly bullish.
No Nonsense. Just Really Good Market Insights. Leave a Boost
TradeWithTheTrend3344
EURGBP: Classic Breakout Trade 🇪🇺🇬🇧
EURGBP broke and closed above a key daily horizontal resistance
cluster on Friday.
Retesting the broken structure, the pair started to consolidate on that
on an hourly time frame.
A bullish violation of the consolidation is a strong bullish confirmation.
The price will most likely continue going up at least to 0.834
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$EURGBP Wholesale Trade IdeaWholesale Area: 0.82252 - 0.83236
Retail Area: 0.86250 - 0.85240
Average Price: 0.83353
The EURGBP currency pair is currently trading at a wholesale level with a 52-week range of 0.82252 to 0.87151. As we proceed, I anticipate initiating additional position additions at these levels.
Mon 16th Dec 2024 EUR/GBP Daily Forex Chart Buy SetupGood morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a EUR/GBP Buy. Enjoy the day all. Cheers. Jim
$EURGBPGreen: Entry Point
Blue: Start of Week
Red: End of Week
Thumbs Up: Trade Available for Week
$ Amount (Numbers Above): Price Targets
Potential ABC corrective pattern located. Looking for price to retrace to the targets overtime.
