EURGBP Possible Bullish MovePrice created a CHoCH to the upside indicating a possible bullish move. Price heading to a buy zone for possible entry.
Remember: Risk management very important.
EURGBP trade ideas
DeGRAM | EURGBP an ascending structure in the channelEURGBP is moving in an ascending channel between the trend lines.
The price has reached a level that has already become a reversal point twice.
We expect a rebound after a retest of the lower boundary of the channel.
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EURGBP 8/2/2024Revised Analysis: EUR/GBP
Market Outlook Shift:
Bias Change: Transitioned from a bearish to a bullish outlook. The shift indicates a potential for a deeper correction to the upside, suggesting that previous bearish expectations may no longer apply.
Counter-Trend Position: In a risk-off environment, this adjustment suggests a positioning against the prevailing trend, anticipating that the market will move upward despite broader risk aversion.
Current Price Action:
Upward Movement: The market is showing a clean upward trajectory, indicating that the bullish move is progressing as anticipated.
Setup Status: No immediate buying setup is present at the moment. This implies that while the move is clean, it’s essential to wait for a more precise entry point.
Invalidation Point:
Location: The invalidation point is set below a key accumulation resistance line and aligns with the 4H RJB block. This is a strong level for invalidation because it coincides with established technical barriers.
Significance: If the price falls below this level, it would invalidate the current bullish scenario and suggest a reevaluation of the bullish bias.
Action Plan:
Continuation Strategy:
Low Risk-to-Reward: With a favorable risk-to-reward ratio, holding onto buy positions remains justified. The distance to the invalidation point provides a manageable risk.
Monitoring: Keep an eye on price movements and key technical levels to confirm the continuation of the bullish trend.
Position Management:
Holding Buys: Continue to hold long positions while waiting for additional buying signals. Ensure to adjust stop-loss levels as needed based on the invalidation point and price action.
Future Setups:
Waiting for Confirmation: Watch for specific patterns or setups that would further validate the bullish trend. This may include price action signals or technical indicator alignments that reinforce the buying opportunity.
Summary:
You’ve correctly identified a bullish shift in the EUR/GBP market with a clean upward move in progress. While no immediate buying setup is present, holding long positions remains viable with a well-defined invalidation point below key resistance levels. Continue monitoring for further confirmations to adjust your strategy effectively.
Possibility of uptrend It is expected that the corrective trend will form up to the specified support area, and then a reversal of the trend and continuation of the upward trend is likely.
EURGBP POTENTIAL SELL OPPORTUNITYHello Everyone!
How are you all?
EurGbp is a pair to watch this week, because it is shaping up very nicely for a bearish trend continuation that we can capitalize on.
So, I will be looking for a bearish continuation because of the following reasons:
1. The overall trend is bearish.
2. The price has formed a bearish structure.
3. The price has approached the value area, completed the third touch of the structure, and made a bearish impulse.
Game Plan:
If the price forms a 15mins/1H flag with two highs and lows.
Entry : will look for a risk sell entry within the flag or a reduced risk entry on the breakout of the flag.
EURGBP: Uptrend Potential Amidst Diverging Monetary PoliciesThe Euro (EUR) has been gaining ground against the British Pound (GBP) in recent times, primarily driven by diverging monetary policy stances between the European Central Bank (ECB) and the Bank of England (BoE).
Market expectations point towards a more aggressive interest rate cutting cycle in the UK compared to the Eurozone. While both central banks have hinted at potential rate reductions to stimulate their economies, the BoE is anticipated to act more swiftly. Historically, interest rate cuts tend to weaken a currency. Coupled with the perceived resilience of the Eurozone economy relative to the UK, this dynamic has been supportive for EURGBP.
However, it's crucial to remember that currency markets are influenced by a multitude of factors. Economic growth, geopolitical tensions, and investor sentiment can significantly impact exchange rates. Therefore, while the current landscape favors the Euro, the situation remains fluid and subject to change.
From a technical perspective, short-term indicators suggest potential upward momentum for EURGBP. However, conflicting signals from longer-term indicators introduce caution. Traders should carefully consider this analysis in conjunction with other factors before making trading decisions.
EUR-GBP Resistance Ahead! Sell!
Hello,Traders!
EUR-GBP is going up now
But the pair is locally
Overbought so after it
Hits the horizontal resistance
Of 0.8500 from where we
Will be expecting a
Local bearish correction
Sell!
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EURGBP expecting a Retest @0.84194 before the bulls comes in As the Eurgbp starts its Choch, I am just waiting to see a Bearish retest @0.84194 before the Bulls can continue to push the price back up to @0.84861 which would be the tp for aggressive traders.
EURGBP: Boe Rate Decision and Potential UpsidesHey Traders, in today's trading session we are monitoring EURGBP for a buying opportunity around 0.84300 zone, EURGBP is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.84300 support and resistance area.
We would keep an eye on today's BoE rate decision as most banks expect a rate cut including Goldman Sachs and Bank Of America.
Trade safe, Joe.
EURGBP Under Pressure! SELL!
My dear subscribers,
My technical analysis for EURGBP is below:
The price is coiling around a solid key level - 0.8443
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 0.8423
My Stop Loss - 0.8458
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 SHORT FROM RESISTANCE
Hello, Friends!
We are going short on the EUR/GBP with the target of 0.837 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band.However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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EURGBP long until MPCUsing FVG and trend lines to suggest a possible outcome ahead of the MPC decision in 12 hours time, and what might happen from there.
A POTENTIAL SELL OPPORTUNITY IN EURGBPAhead of BoE interest rate, A possible sell opportunity is envisaged from the current market price of 0.84199 as
We expect a fall In price to 0.83828
Take advantage of the sell opportunity.
EURGBP-BULLISHEURGBP is entering into a bullish trend as divergence has been formed at the support area so we will take a buy trade here
EURGBPPair : EURGBP ( Euro / British Pound )
Description :
Completed " 12345 " Impulsive Waves
Break of Structure
RSI - Divergence
Bullish Channel as an Corrective Pattern in Short Time Frame
Support Level
Uptrend After some fluctuation and correction, the uptrend is expected to start. In this case, the resistance trend line should be broken and the price should advance to the specified resistance range
A SELL OPPORTUNITY IN EURGBPPrice is currently trading at 0.84281 a sell opportunity is envisaged from the current market price. The trend remains bearish.
Take advantage of the opportunity
EURGBPEURGBP is still in a downward trend. I'm looking for a reversal to the blue line for a short. Please share your thoughts. HAPPY TRADING !!!
Bullish IdeaThis is our PLAN B scenario after our first map was invalidated to a certain percentage. In a daily time frame, we think that the Market has some moves to the downside to make and rest on the Daily Demand Level while completing what looks like an ending diagonal (wedge) within the Channel. Therefore, we think as the price tests the Demand level, we'll then have a good set up for Bulls.
EURGBP SellsLooking to enter a sell on EURGBP after buying up to my Weekly Selling region. Price rejected the Weekly Selling region strongly indicating we are continuing the downtrend on the weekly BIAS. I am looking to enter at a Daily selling region which will also create a H&S on the 4HR (no surprise there) I will wait and monitor to see how price approaches my zone and wait for my entry criteria
entry @ 0.84450/0.84500
Stop @ 0.84650/0.84700
TP @ 0.83800/0.83750
:)
EURGBP Buy
The above buy was gotten from a breakdown of the Weekly, Daily and 4HR price came down to retest previous weekly support that held price up since August 2022 so we know this lvl is strong. I waited to receive a Bullish Day reacting from the Weekly Lvl indicating there is still Bulls present at this Lvl then looked on the 4HR
The daily Bullish Candle gave us a BOS on the 4HR creating an inverse H&S
My entry was based on the right shoulder plus a double bottom at that shoulder
Entry was M/E at round physic Lvl
