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EURGBP trade ideas

EURGBP POTENTIAL SHORT 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 continuation structure and it is approaching the value area. Game Plan: If the price comes to the VA, and rejects at that level or sweeps the High, and makes a bullish impulse followed by a 15mins flag with two highs and lows. Entry : will look for a risk buy entry within the flag or a reduced risk entry on the breakout of the flag.
Short
by DTreasureMarketHub
EURGBP Overbought RSI, buy opportunity.The EURGBP pair hit on June 14 the bottom (Lower Lows trend-line0 of the 7-month (dashed) Channel Down and is on the rebound. At the same time, the 1D RSI got oversold (below 30.00) and every time it did so in the past 12 months, it started a strong bullish reversal. More specifically the previous Bullish Leg of the Channel Down reached the 0.618 Fibonacci retracement level to form its Lower High. As a result, we turn bullish on this pair, targeting 0.85500 (0.618 Fib). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
EUR/GBP Technical Analysis## EUR/GBP Technical Analysis Timeframe: 15-Minute Chart ### Chart Overview: The EUR/GBP pair on the 15-minute timeframe exhibits detailed recent price action, incorporating several technical elements that suggest potential future movements. ### Key Elements: 1. Downtrend Channel: - The chart initially indicates a downtrend channel, with the price respecting the upper trendline as resistance and the lower trendline as support. - This channel suggests a bearish trend with lower highs and lower lows up to a certain point. 2. Breaking Out of the Channel: - Recently, the price appears to have broken out of the downtrend channel to the upside, indicating a potential reversal or at least a short-term bullish correction. - The breakout is accompanied by a consolidation phase just above the previous upper trendline. 3. Support and Resistance Levels: - Resistance Levels: Immediate resistance levels are noted at 0.84603, 0.85181, and above these, at the previous high around 0.8535. - Support Levels: Key support levels include 0.84571, 0.84578, 0.84206, and further below at 0.84042 and 0.8400. These levels have provided significant support in the past and could act as potential bounce points if the price declines. ### Conclusion: The EUR/GBP pair is currently in a critical phase, having recently broken out of a downtrend channel. The price action around key support and resistance levels will be crucial in determining the next move. Volume analysis supports the recent bullish breakout, suggesting potential for further upside if key resistance levels are breached. Always manage your risk with appropriate stop losses and position sizing.
by THE-10
Long trade Trading Plan Currency Pair: GBP/USD Entry Price: 0.84644 Profit Level: 0.84923 (0.33%) Stop Level: 0.84595 (0.06%) Risk to Reward Ratio (RR): 5.94 Time Frame: Tokyo to London Session (3:00 PM) Direction: Buy (Long Position) Context and Market News Market Sentiment: The pound briefly edged up on Friday after UK retail sales data beat expectations for May, suggesting some resilience in the British consumer market. However, this came a day after the Bank of England signaled a possible rate cut in August. News Driver: Positive retail sales data provided some support for the pound, despite the dovish outlook from the Bank of England.
Long
by davidjulien369
EUR/GBP potential shortContext: • Market broke through monthly lows and stayed below • Built a weekly FVG down • On the daily, market builds a creeping trend into the weekly FVG • The weekly FVG is supported by lower timeframe FVGs on the daily and 4h chart Idea: • Look for shorts in the area 0.8465 to 0.85 (i.e. lower bound of weekly FVG up to las broken low) • Preferred entry timeframe: 4h Caution / Scenario invalidated: • Caution if market closes above 0.8484 • If market goes into 0.85, a sharp reversal should occur • If the market accepts higher prices and builds up a bullish dynamic, returning into its previous range, I skip this one Target: • Low around 0.84 Stop: • Above your entry signal • Last resort: 0.8541 Watch for your CRV Please feel free to comment!
Short
by MichaelBw
EURGBP : INVERTED HEAD AND SHOULDERS ?- The market is trading below a bearish trendline since beginning of May 2024 ; the mid-term trend is bearish for EURGBP. - Since the impact over 0.8397, the market has registered an increased buying pressure, preventing prices from dipping further. This slow trading mind shift has led the market into what looks like a potential inverted Head & Shoulders bullish reversal pattern. Moving averages are reversing to the upside, even if a bullish cross remains yet to be seen. The MACD indicator has already shown a bullish break-out of its own bearish trendline. - This is seen as a potential bullish reversal situation. Indeed, the rounding bottom/H&S usually displays a fading interest from short sellers, leading to the end of a bearish trend. In addition, this scenario is also supported by the fact more and more traders now await for dovish moves to come from the BoE, especially after they have been disappointed following the last monetary decision. BoE Governor recently said cutting rates prior to the coming general elections in the UK wasn't a right timing, which opens the doors to a start of the next monetary easing cycle for the coming monetary meetings. This scenario would significantly decrease appetite for the Pound Sterling, leading EURGP to a new mid to long-term bullish trend. Pierre Veyret, Technical Analyst at ActivTrades. The information provided does not constitute investment research. The material has no been prepared in accordance with the legal requirements designed to promote the independence of investment research and such is to be considered to be a marketing communication. All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
Long
by ActivTrades
Bounce for EURGBP but next moves might depend on dataThe euro is down around 1.6% against the pound in 2024 so far with most of that decline within the last month. June’s PMIs were mostly disappointing, raising the probability of another cut by the European Central Bank (‘the ECB’) later this year. The ECB was among the first major central banks to call for a cut at its meeting earlier this month. The bounce since 14 June seems to be a technical movement primarily. Momentum has been fairly low and there hasn’t been a significant uptick in volume although ATR has reached a new high. The 38.2% monthly Fibonacci retracement around 83.7p is likely to be a strong support if there’s another move lower. To the upside, each of the 20, 50, 100 and eventually 200 SMAs might be important as dynamic resistance. Germany releases IFO Business Climate and GfK consumer confidence on 24 and 26 June respectively. Either or both of these could drive volatility. Preliminary French inflation on 28 June is less important but if all of these releases are positive there could be more gains for the euro against the pound. This is my personal opinion which does not represent the opinions of Exness. This is not a recommendation to trade.
by Michael_Stark_Exness
EUR/GBP BUY at market (.8450)2 weeks ago the EUR/GBP opened with a market gap. Those of you who read my previous posts on this subject will know that I believe gaps in the market are ALWAYS filled. True, this can be weeks or even months but most commonly gaps are filled within 48 hours. Last week downward pressure prevented the EUR gaining on the GBP and the gap remained. I was moderately confident that the gap would be filled this week and I've had muliple LONG positions on EUR/GBP but every trade hit headwinds and were closed (at a profit). This morning we saw the EUR decline with the weak German and French manufacturing and Services PMI but this was followed by weak GBP Flash Manufacturing and Servicing PMI and a look at the H1 chart will reveal that this has left this pair in a definitive northerly direction. I've markeed the approximate path of the 200 EMA on the chart as, as can be seen, this was falling, then turned level and is now poised to head north. At 14:45 (45 minutes) we have trhe USD Flash manufacturing and Services PMI. I don't expect the release to have much impact on this pair. I'm happy to be LONG on this pair in anticipation of the gap being closed sometime next week.
Long
by forextraplaces
EUR/GBP Poised for Seasonal Upswing as July BeginsAs July kicks off, the EUR/GBP pair is entering a period of seasonal strength, supported by historical trends and favorable technical indicators. Historically, EUR/GBP has shown a tendency to perform well during this time of year, and this seasonality is further bolstered by the latest Commitment of Traders (COT) report. The report indicates that the Euro is currently the preferred asset among institutional investors, often referred to as "smart money." Recently, the EUR/GBP pair rebounded from the 0.8400 support level, a critical area that has provided a strong base for price action. This rebound, coupled with the seasonal patterns and smart money positioning, presents a compelling case for a bullish setup. Given these factors, we are now looking for opportunities to enter long positions on the EUR/GBP pair, anticipating continued strength in the Euro as the month progresses.
Long
by FOREXN1
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