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EURGBP trade ideas

EUR/GBP at Crucial Support - Will It Hold or Break?Alright traders, let’s break down the EUR/GBP 4-hour chart On this chart, we can see that EUR/GBP is currently in a downtrend, confirmed by the descending trend line and the lower highs and lower lows pattern. The price is trading below both the 21 EMA and the 8 EMA , indicating bearish momentum. However, there is a consolidation phase happening around the 0.84076 level, where the price seems to be finding temporary support. The key levels to watch are the resistance at 0.84309 and the support at 0.83979. A breakout above the 0.84309 resistance, especially with a strong close above the 21 EMA, could signal a bullish reversal. Conversely, a break below the 0.83979 support could confirm the continuation of the bearish trend. Given the current market structure, my bias is slightly bearish, but I am open to a potential bullish reversal if we see a breakout above the resistance level.
by SheenaL
EURGBP: A Trade You Don't Want To MissEURGBP: A Trade You Don't Want To Miss EURGBP is testing an old weekly support zone that proved to be strong several times. Usually, we refer to normal support zones to observe the price reaction, but this time EURGBP is near a weekly area. We have to be cautious at the moment because EURGBP may go down a bit more, but overall should rise from the weekly support zone. The price tested this area in 2016, 2017, 2020 and 2022. After the start of the uptrend, EURGBP rose by nearly +400 to +900 pips during the uptrend. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Long
by KlejdiCuni
7
Buy AnalysisEUR/GBP Buy Analysis Trade Idea: Buy EUR/GBP Entry: 0.8370 Take Profit: Up to 0.84342 Rationale: Technical Analysis: EUR/GBP has shown strong support near the 0.8370 level, with recent price action indicating potential for an upward move. Resistance Break: A breakout above recent resistance suggests bullish momentum could carry the pair towards the 0.84342 level. Risk Management: Place a stop-loss according to your risk tolerance and trading strategy, ensuring potential losses are controlled. Disclaimer: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The analysis provided is for informational purposes only and should not be considered as investment advice.
Long
by GODOCM
EURGBP - Possible Short OpportunityEURGBP is in a downtrend on higher timeframes and now, in my opinion, is starting a corrective move on lower timeframes after having broken the previous low at 0.85. We will have to wait for confirmations, but I believe that we will have a short opportunity, in the retest of the 0.85 level, or higher on the major downtrendline/SMMA, I drew on the chart the 2 possibilities that I believe are most likely. If we get the confirmations I will update the idea with my entry into the trade.
Short
by The_Trading_Wizard_
1
EURGBP - Short from trendline !!Hello traders! ‼️ This is my perspective on EURGBP. Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I look for short position. I wait price to continue the retracement and then to reject from trendline + FIBO 0.5 level. Fundamental news: Tomorrow (GMT+3) we will see results of CPI on GBP and on Thursday (GMT+3) we have Interest Rate on EUR, news with high impact on currency. Like, comment and subscribe to be in touch with my content!
Short
by Snick3rSD
Could EUR/GBP drop from here?The price is rising towards the pivot which acts as a pullback resistance and could potentially drop to the 1st support. Pivot: 0.84037 1st Support: 0.83687 1st Resistance: 0.84306 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets