EURGBP trade ideas
EURGBP (Projection of possible opportunity zone)I believe Forex traders should pay attention to the area ranging from approximately 0.84784 to 0.84569, as this zone marks the upper boundary of a downtrend channel that has been respected for an entire year. To further reinforce the upper part of the channel, the 20-month EMA is also positioned over this area.
Another detail related to price action is that the trend has moved without pulling back until nearly reaching the top of the channel, which increases the likelihood of a reversal.
This is just a projection of what could happen. I do not recommend entering the market without a prior pattern or formation to justify it.
Channels have been used for over a century due to their ability to clarify price action and highlight probable opportunity zones.
EURBGP: Sell signal on the Channel Down top.EURGBP is almost overbought on its 1D technical outlook (RSI = 68.286, MACD = 0.003, ADX = 49.271) as it crossed over the 1D MA200 and almost touched the top of the short term Channel Down. This is a solid first entry for a short, the second being under the 1W MA200 near the dashed trendline of the long term Channel Down. Target the 0.786 Fibonacci retracement level (TP = 0.82800).
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EURGBP Set To Fall! SELL!
My dear subscribers,
My technical analysis for EURGBP is below:
The price is coiling around a solid key level - 0.8407
Bias - Bearish
Technical Indicators: Pivot Points High anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 0.8381
About Used Indicators:
By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses
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WISH YOU ALL LUCK
EUR/GBP Trade Idea.After CPI even yesterday making a valid pullback we will be looking to take Buy Side Liquidity.
MacD is supporting our entry along side with staying above both EMA's and staying Bullish on the HTF
For my entry Im looking to enter from this Mitigation Block sitting at this Demand zone.
To confirm this entry we will be looking to fill this imbalance.
Phycological number being 85300 for TP. If this TP reaches then we will be at a valid Batwing pattern.
EUR/GBP: Ready to reach the level 0.83!The EUR/GBP exchange rate is currently in a bearish phase, trading near 0.8440 as of January 15, 2025. The key resistance level at 0.8445, which has been a significant barrier since September, has once again hindered upward attempts. The recent downward pressure has been influenced by the halt in the rally of UK gilt yields, following weaker-than-expected inflation data. This factor, combined with growing concerns about stagflation in the UK, creates an unfavorable environment for the Pound, increasing the likelihood of a dovish stance from the Bank of England. On the European side, the stabilization of inflation in the Eurozone provides relative support for the Euro, further reinforcing the bearish sentiment on the EUR/GBP pair. Key upcoming events in the short term include the BoE rate decision on January 25, 2025, which could significantly impact the Pound: a more accommodative stance would further weaken the British currency, favoring an upward movement in the pair. This will be followed by the Eurozone GDP data release on February 2, 2025, and the PMI results for both the UK and the Eurozone in early February, with the potential to influence market dynamics depending on the relative strength of their economies. Market sentiment remains oriented toward short-term stability, with limited movements expected until new significant signals emerge from economic data or central bank decisions.
EURGPB Wave Analysis 15 January 2025
- EURGPB reversed from multi-month resistance level 0.8445
- Likely to fall to support level 0.8380
EURGPB currency pair recently reversed down from the strong multi-month resistance level 0.8445, which has been steadily reversing the price from the start of September, as can be seen below.
The resistance level 0.8445 was further strengthened by the upper daily Bollinger Band and by the nearby 61.8% Fibonacci correction of the downtrend from the start of August.
Given the overbought daily Stochastic, EURGPB currency pair can be expected to fall to the next support level 0.8380.
Buy opportunityEUR/GBP – 4H Chart Analysis
Overview:
EUR/GBP is displaying bearish momentum following a strong rejection at the key resistance zone. The price action, along with volume analysis and risk-reward dynamics, supports a short trade setup targeting lower support levels.
Trade Setup:
Instrument: EUR/GBP (FX)
Trade Type: Short (Sell)
Entry Zone: 0.84340 - 0.84380
Stop Loss: 0.84695 (Above recent highs and resistance)
Take Profit: 0.83270 (Next support level)
Risk/Reward Ratio: 1:3.02
Analysis:
Resistance Zone: The area around 0.84695 has acted as a significant supply zone, with price unable to break higher.
Support Zone: The target level at 0.83270 aligns with previous demand and historical price reactions.
Volume Profile: A high concentration of orders near the current levels suggests a bearish continuation.
Trend Structure: Lower highs and consistent selling pressure indicate a continuation of the downtrend.
Expected Move:
If EUR/GBP fails to reclaim 0.84695, we anticipate a drop toward the next major support at 0.83270, offering a high-risk-reward opportunity for sellers.
EURGBP is bullish trendafter breaking the marked resistance price, new HHs & HLs, and currently the price is marking its later and there is also a bearish divergence which is also pushing the price downwards. In such scenarios, Fibonacci levels play an important role and with the help of that, we can make our entry better with more RR. One can buy either at .5 or.618 Fib point SL is also mentioned. Instant buy is also another option but in all cases SL will remain same
EURGBP Potential correctionThe EURGBP market recently tested the November high, creating a false breakout on the 4-hour timeframe after sweeping liquidity above the 0.84500 level. Following five consecutive bullish days, a retracement may be on the horizon. Despite the price continuing to register higher highs, a bearish divergence has emerged, signaling a potential loss of upward momentum.
With the market now testing the monthly high alongside this bearish divergence, a downward move from the resistance level and channel border appears likely. The key focus is on the support zone around 0.83710
EUR/GBP BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
EUR-GBP uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 0.834 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the EUR/GBP pair.
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Lingrid | EURGBP shorting OPPORTUNITY from November HIGHThe price perfectly fulfilled my last idea. It hit the target. FX:EURGBP recently tested the November high, resulting in a false breakout on the 4H timeframe after taking liquidity above the 0.84500 level. The market printed five consecutive bullish days, but at this point, we may see some retracement. Although the price has continued to make higher highs, there's a bearish divergence forming, indicating potential weakness in the upward momentum. Given that the market is testing the monthly high with this bearish divergence, I expect a downward move from resistance and channel border. My goal is support zone around 0.83710
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
EURGBP - Short SetupMy main trading principle is that the price always moves from swept liquidity levels to untouched liquidity levels.
In particular case we clearly can see the following context: price swept 1D key liquidity level and left untouched level lower, this indicates on probable distribution Wyckoff range.
But to take more statistically probable trades we should wait for some type of lower timeframe confirmation, and in this case we can notice sign of weakness (reaching the middle of the range), so potentially there is a higher probability to see price lower.
Your success is determined solely by your ability to consistently follow the same principles.
EURGBP-SELL strategy 12-Hourly chartThe pair is very overbought short-term, and judging the regression channel, the chances are a pullback to 0.8365 is possible for the coming sessions. It could be even near 0.8340 before it may hold and re-establish itself for higher levels.
Strategy SELL current 0.8415-0.84450 and take profit near 0.8345 for now.
GBPCHF - 13 Jan 2025 SetupEURGBP Market structure are still Bullish. Spotted demand area (Green Rectangle). its a verygood demand area as we seen Resistance become support on that area.
Entry Position : Long
Profit Target : 1:3 Shown on the chart image (Green Line)
Stop Loss : Slightly below demand area (Red Line)
Follow me if u guys making any gains from this idea.
Thanks
Coffee Trade Team