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EURGBP trade ideas

EUR/GBP - Correction LevelsEUR/GBP is hitting high over the past few days. Looking for the correction now before we continue up higher. These levels look pretty solid for the short term as we did just break and retest the trendline we have bounced off of multiple times so far. On top of the break of the trend we have also set up a nice double top formation signaling for a strong potential for the correction to be coming shortly. The big question here is how big of a correction will we look for? I will trail stops into profit as we progress deeper into the trade. I am taking this trade even though I am bullish overall on the pair for a more long term approach. I am more the less hedging my long position to allow me to not enter drawdown and also secure some additional profits through the coming correction Let me know your thoughts here. Lets make some bread!
by Nicholas_k
1
EURGBP INTRADAY bullish breakout supported at 0.8450EUR/GBP maintains a bullish bias, supported by the prevailing upward trend. Recent intraday movement indicates a corrective pullback toward a key consolidation zone, offering a potential setup for trend continuation. Key Support Level: 0.8450 – previous consolidation range and pivotal support Upside Targets: 0.8576 – initial resistance 0.8616 and 0.8650 – extended bullish targets on higher timeframes A bullish reversal from 0.8450 would suggest continuation of the uptrend, confirming buying momentum. However, a decisive break and daily close below 0.8450 would invalidate the bullish structure, opening the door for further retracement toward 0.8417, with additional support at 0.8400 and 0.8373. Conclusion EUR/GBP remains bullish above 0.8450. A bounce from this level supports further gains toward 0.8576. A close below 0.8450 would shift the outlook bearish, exposing downside risk toward 0.8373. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
EURGBP rises despite no clear catalyst linked to EUR or GBPEURGBP rises despite no clear catalyst linked to EUR or GBP The EUR/GBP trading scenario I shared months ago is finally showing clear movement. The weekly support zone around 0.8200 - 0.8300 has proven to be remarkably strong, holding the pair in place for an extended period. What’s surprising is that the bullish wave has begun now—despite no clear catalyst directly tied to the Eurozone or the UK. Instead, the surge seems to be fueled by market turbulence caused by Trump’s tariff decisions, which have disrupted global sentiment. EUR/GBP had been undervalued, but lacked a trigger for upward movement—until now. So far, the pair is rising steadily, increasing the likelihood that a major bullish wave is underway. If the Bank of England cuts interest rates in the upcoming meeting, it could further accelerate EUR/GBP’s climb. 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❤️ Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by KlejdiCuni
7
EURGBP: A Potential Short Opportunity Amidst ConsolidationEUR/GBP daily chart reveals a compelling narrative of consolidation followed by a potential bearish reversal. The pair has been trading within a defined range, bounded by key horizontal support and resistance zones (highlighted in blue). The recent price action suggests a rejection from the upper resistance zone, setting the stage for a possible short trade. Key Observations: Range-Bound Consolidation: The chart clearly shows EUR/GBP oscillating within a well-defined range. This pattern indicates a period of indecision, where neither buyers nor sellers have established a clear dominant trend. Resistance Zone Test and Rejection: The price recently revisited the upper resistance zone. The subsequent price action, characterized by a sharp downward move, suggests a strong rejection from this level. This rejection is a critical signal that sellers are stepping in, potentially reversing the recent upward momentum. Bearish Engulfing/Pin Bar Formation (Possible): While the chart doesn't explicitly highlight a candlestick pattern, the sharp rejection from the resistance zone suggests the formation of a bearish engulfing or a pin bar on a lower timeframe. This pattern reinforces the bearish bias. Retracement and Entry Opportunity: The price has retraced a portion of the recent decline. This retracement presents a potential opportunity to enter a short position, capitalizing on the anticipated continuation of the bearish move. Support Zones as Targets: The lower support zone serves as a primary target for the potential short trade. The intermediate support level (around 0.83727) can act as a partial profit-taking zone or a point to trail the stop loss. Pattern Identification: The dominant pattern observed is a range-bound consolidation followed by a potential bearish reversal triggered by a rejection from a key resistance zone. Trade Setup: Entry: A short entry can be considered at the current price level (around 0.85021-0.85129) or on a break below the immediate support level (0.84772). A more conservative approach would be to wait for a clear bearish candlestick pattern confirmation on a lower timeframe (e.g., H4 or H1). Stop Loss: The stop loss should be placed above the recent swing high (around 0.85867) to protect the trade from unexpected price reversals. Take Profit: The primary target is the lower support zone (around 0.82537-0.82218). An intermediate target can be set at the 0.83727 level. Risk-Reward Ratio: The potential trade offers a favorable risk-reward ratio, with a relatively small stop loss and a significant profit target.
Short
by ultreosforex
4
EUR/GBP Analysis Double Bottom Breakout Toward TargetOverview of the Chart This chart displays a EUR/GBP daily timeframe setup, highlighting a Double Bottom Pattern, a well-known bullish reversal formation. The pattern consists of two consecutive lows at a similar price level, followed by a breakout above a key resistance zone. This setup suggests a potential trend reversal from bearish to bullish. Technical Analysis Breakdown 1. Double Bottom Formation (Reversal Signal) Bottom 1: The first low was established after a prolonged downtrend, where the price found support and bounced higher. Bottom 2: Price revisited the same support area but failed to break lower, indicating that sellers are losing strength and buyers are stepping in. A double bottom pattern signals that the asset is forming a strong base and is likely to move higher after breaking the neckline (resistance level). 2. Support and Resistance Levels Support Level (~0.8322): This level acted as a demand zone, preventing further downside. It marks the price area where buyers accumulated positions, leading to a reversal. Resistance Level (~0.8500): This level previously acted as a supply zone, where sellers controlled the price. A breakout above this level is crucial to confirm the bullish trend continuation. 3. Breakout Confirmation & Retest Expectation The price successfully broke above the resistance zone, confirming a bullish reversal. A potential retest of the broken resistance (now turned support) could occur before further upside movement. Traders often wait for this retest to confirm that the breakout is genuine before entering a position. 4. Price Target Projection Based on the measured move strategy, the expected target is calculated by measuring the height of the double bottom pattern and projecting it above the breakout zone. Target Price: 0.8742, aligning with historical resistance levels. 5. Stop Loss Placement Stop loss at ~0.8322 (below the double bottom support). This ensures risk is managed in case of an invalid breakout or a false move. Trading Plan & Execution Strategy 📌 Entry Strategy: ✅ Breakout Entry: Buy after the breakout above resistance. ✅ Retest Entry: Wait for a pullback to the previous resistance (now support) before entering. 📌 Risk Management: 🔹 Stop Loss: Placed below the recent support at 0.8322 to limit downside risk. 🔹 Take Profit: First target at 0.8742 based on the double bottom structure. 📌 Market Outlook: A successful breakout and bullish momentum could push prices toward the target. If the price fails to hold above the breakout zone, a deeper retracement could occur before continuing higher. Conclusion The EUR/GBP pair has formed a bullish double bottom reversal pattern, signaling a potential uptrend continuation. The key levels to watch include 0.8500 (resistance turned support) and 0.8742 (target projection). Traders should monitor price action around the breakout zone for confirmation and consider risk management strategies before entering a position.
Long
by GoldMasterTrades
EURGBP is ready to take off ... the week of 07 Apr 2025Weekly chart – strongly bullish, broke above previous structure Daily chart – strongly bullish, broke above previous structure H4 chart – bullish, now pulling back towards previous resistance, now turned support. The formation of a higher low on the daily adds to my confidence that we are headed higher. This is actually a breakout-retest setup. When/If price reaches this zone, I will be monitoring PA on H4 and H1 timeframes with a view to find evidence of a bullish continuation. We could easily have a much deeper retracement too. In the current uncertain world economic situation, it is vital to establish that control of the market has returned to the bulls, before taking a trade. Stop may be larger than what I would like, but it will need to be below the nearest swing low. Target can be generous too – at 0.8613 or anywhere higher right up to 0.8750. This is not a trade recommendation; it’s merely my own analysis. Trading carries a high level of risk, only trade with money you can afford to lose and carefully manage your capital and risk. If you like my idea, please give a “boost” and follow me to get even more. Please comment and share your thoughts too!! It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Long
by Trading_Vista
EURGBP Wave Analysis – 4 April 2025 - EURGBP broke resistance area - Likely to rise to resistance level 0.8500 EURGBP currency pair recently broke the resistance area located between the resistance level 0.8450 (which has been reversing the price from September), resistance trendline of the daily down channel from November and the 50% Fibonacci correction of the downward impulse from March. The breakout of this resistance area should strengthen the bullish pressure on this currency pair. EURGBP currency pair can be expected to rise to the next resistance level 0.8500 (former yearly low from 2023 and strong support from the start of 2024).
Long
by FxProGlobal
EURGBP- Chart of the day (Trend line break out)The pair hits a fresh year high on board-based Euro buying. Intraday bias remains bullish as long as support 0.8380 holds. It hit an intraday high of 0.85014 and is currently trading around 0.85008. Technical Analysis The pair is currently trading above the 34- and below 55-EMA on the 4-hour chart. Bearish Trend Confirmation: Any break below 0.84500 confirms an intraday bearish trend. A drop to 0.8400/0.8380/0.8300 is likely. Near-Term Resistance: It broke major trend line resistance (trend line joining 0.87564 and 0.86251). A jump to 0.85405 (200 W EMA)/0.8600 is possible. Indicator Analysis (Daily chart) CCI (50): Bullish Average Directional Movement Index: Bullish Trading Recommendation It is good to buy on dips around 0.84950-98 with SL around 0.84480 for a TP of0.8600
Long
by FxWirePro
EUR/GBP (1H) – Rising Wedge Breakdown & Short Trade Setup1. Overview of Market Structure The EUR/GBP pair is forming a Rising Wedge Pattern, a well-known bearish reversal formation, which suggests that the current uptrend may soon reverse into a downtrend. The price has been moving within a tightening range, making higher highs and higher lows, but the upward momentum appears to be weakening. A breakdown from this wedge is a strong bearish signal, indicating that sellers are gaining control, and a significant price drop is expected. 2. Chart Pattern: Rising Wedge – Bearish Reversal A Rising Wedge is a pattern that occurs when price moves upward within a contracting range. This pattern typically forms after an uptrend and suggests that bullish momentum is slowing down. Characteristics of the Rising Wedge in This Chart: The price has tested the upper resistance zone multiple times, but each attempt has resulted in a rejection. The lower support trendline has been tested frequently, showing that buyers are losing strength. The breakdown of the wedge signals a strong bearish move, with price expected to drop toward key support levels. This pattern becomes valid once the price breaks below the lower trendline, confirming the bearish outlook. 3. Key Technical Levels & Zones A. Resistance Zone (0.84853) – Strong Supply Area Marked as a Resistance Zone, where price has struggled to break through. Sellers have stepped in around this level multiple times, preventing any further bullish movement. Acts as a major stop-loss level for bearish trades, as a breakout above this zone could invalidate the setup. B. Support Zones (Potential Take-Profit Targets) 1st Support Level (TP1) – 0.82539 This level has previously acted as strong support, where buyers have entered the market before. A short-term pullback or consolidation may occur here. 2nd Support Level (TP2) – 0.81332 This is the final bearish target, marking a key demand zone from where price has bounced in the past. If bearish momentum continues, price could reach this level, making it an ideal take-profit zone for swing traders. 4. Trading Strategy & Execution A. Entry Strategy A short trade is ideal after the price breaks below the rising wedge pattern. There are two possible entries: Aggressive Entry: Enter immediately after the breakout of the lower trendline, anticipating strong downside momentum. Higher risk as price might retest the trendline before moving down. Conservative Entry: Wait for a retest of the broken trendline before entering short. This confirms the breakdown, reducing false breakout risks. B. Stop-Loss Placement Stop-loss should be placed just above the resistance zone (0.84853). This prevents being stopped out by minor pullbacks before the actual move happens. C. Take-Profit Targets TP1: 0.82539 (First major support level – potential profit booking area) TP2: 0.81332 (Final bearish target – strong demand zone) 5. Risk Management & Trade Management Risk-to-Reward Ratio (RRR) This trade offers a high RRR, making it an attractive setup. The stop-loss is small compared to the potential downside move. Trailing Stop Strategy A trailing stop can be used to lock in profits as price moves lower. If price reaches TP1, move stop-loss to breakeven to secure capital. If price reaches TP2, close the trade for maximum profit. Exit Strategy Exit early if price fails to break key support zones. Monitor price action around TP1 & TP2 for signs of reversal. 6. Sentiment Analysis & Market Context Bearish Confirmation: Breakdown from the wedge signals bearish sentiment in the market. If price fails to sustain above support zones, further downside is likely. News & Fundamentals: Major economic events or interest rate decisions could impact EUR/GBP volatility. Traders should check for UK & Eurozone news before entering the trade. 7. Conclusion – Bearish Outlook The Rising Wedge breakdown is a strong short-selling opportunity. Confirmation is key: Enter short after the breakdown, use proper risk management, and aim for TP1 & TP2. If price invalidates the pattern by breaking above 0.84853, the trade setup should be reconsidered. This setup provides a high-probability bearish trade with a well-defined stop-loss and risk-to-reward ratio.
Short
by GoldMasterTrades
EURGBP: A Multi-Time Frame AnalysisEURGBP: Range Trading Opportunity EUR/GBP recently tested a strong resistance zone near 0.8470, showing for a possible price reaction. The same zone pushed the price downward several times. We have to be careful as the situation is not that stable from Trump's tariffs but it could be the case for EURGBP to respect the same pattern again. Based on historical price behavior, there is potential for the pair to move downward again. 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❤️ Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Short
by KlejdiCuni
3
EURGBP → False break of liquidity zone (resistance)FX:EURGBP within the distribution (news background) tests resistance 0.84616 and liquidity zone, but without the possibility of continued growth the price forms a false breakout The dollar index falls amid Trump's introduction of new tariffs, which generally provokes a rally in the whole market. But before NFP, the market shifts to profit-taking because of the growing risks. There are quite important news ahead, which may provoke high volatility. Technically, after a strong move, the currency pair forms a false resistance breakout and consolidates in the selling zone. If the bears keep the price below 0.84616, in the short term we should wait for a correction to 0.5 fibo or to the fvg zone. Resistance levels: 0.84600 Support levels: 0.8427, 0.8396 The situation is quite complicated due to unstable background, but technically we have a classic situation with a false breakout of strong resistance, and as we know, according to statistics, the strongest movements start after it (in relation to the trade of level breakout). Regards R. Linda!
Short
by RLinda
7
Why EURGBP Bullish ?? Detailed Analysis EUR/GBP is currently trading around 0.8470, having recently completed a breakout accompanied by increased trading volume. This surge suggests strong bullish momentum, with the pair targeting a potential gain of over 300 pips, aiming for a price level of 0.8700. Fundamental factors contribute to this bullish outlook. The euro has shown resilience amid recent economic developments in the Eurozone. Notably, Eurozone inflation decreased to 2.2% in March from 2.3% in February, driven by a significant reduction in energy costs and slowing service inflation. Core inflation, which excludes volatile food and fuel prices, also fell to 2.4% from 2.6%, which was below expectations. This easing of inflation is likely to reinforce expectations for another interest rate cut by the European Central Bank (ECB) later in April. The ECB has already reduced rates six times since last June. Conversely, the British pound has experienced fluctuations due to recent trade developments. On April 3, 2025, the pound surged to a six-month high against the U.S. dollar amid global market concerns following the announcement of new U.S. trade tariffs. Despite facing elevated duties on exports such as cars, steel, and aluminum, optimism surrounding a potential UK-U.S. trade agreement provided a positive outlook for sterling. citeturn0news24 However, ongoing trade negotiations and potential fiscal adjustments by the UK government may introduce volatility, influencing the pound's performance against the euro. Technical analysis supports the bullish sentiment for EUR/GBP. The pair's breakout above previous resistance levels, coupled with increased volume, indicates strong buying interest. Key resistance levels to monitor include 0.8500 and 0.8600, with a sustained move above these levels potentially paving the way toward the 0.8700 target. Traders should also observe support levels around 0.8400 to manage potential pullbacks effectively. In summary, the EUR/GBP pair exhibits a bullish trajectory, underpinned by favorable technical patterns and evolving fundamental factors. Traders should implement robust risk management strategies, including setting appropriate stop-loss orders, to navigate potential market volatility. Staying informed about upcoming economic data releases and central bank communications will be crucial in effectively capitalizing on this trading opportunity.
Long
by AndrewsMarket-Mastery
3