EURGBP Down to SupportEURGBP broke out of the bullish channel and I think it will go back to the previous support level
GBPEUR trade ideas
EURGBP - BOE decisions will make the GBP rise!?The EURGBP currency pair is below the EMA200 and EMA50 in the 4H timeframe and is moving in its descending channel. In case of an upward correction due to economic data this week, we can see a supply zone and resell within that zone with a suitable risk reward. Reaching the demand zone of this currency pair will lead to scalp buying opportunities.
The UK energy regulator has approved a £2 billion funding package to build a high-voltage “electricity superhighway” beneath the North Sea. This project, known as the “Eastern Green Link 1,” involves laying 196 kilometers of cable to transfer wind power from Scotland to northern England. The initiative is expected to supply electricity to approximately two million homes.
Rachel Reeves, the UK’s finance minister, stated that the government aims to achieve broad and resilient economic growth. She also reaffirmed the Bank of England’s target of maintaining a 2% inflation rate.
Andrew Bailey, Governor of the Bank of England, noted that inflation in the services sector remains above levels compatible with the inflation target. He stressed the need for close monitoring of this sector, as it reflects labor market developments. Bailey further mentioned that a gradual approach to easing monetary policy restrictions would help manage inflation-related risks more effectively.
Meanwhile, the European Commission has warned of heightened risks in its economic outlook due to the war in Ukraine, tensions in the Middle East, and protectionist trade policies. The Commission estimates Germany’s GDP growth to rise by 0.7% in 2025, down from an earlier forecast of 1.0%. Additionally, public debt in the Eurozone is expected to increase from 89.1% in 2024 to 90.0% by 2026. Inflation rates are projected at 2.4% for 2024, 2% for 2025, and 1.9% for 2026.
A Bloomberg survey revealed that economists now believe Germany may face a second consecutive year of declining output. Analysts expect Germany’s GDP to shrink by 0.1% in 2024 following a 0.3% contraction in 2023.A month ago, predictions still pointed to an economic slowdown only for this year.
Fabio Panetta, a member of the European Central Bank (ECB), stated that persistent weakness in domestic demand might drive inflation below 2%. He suggested that the ECB should consider shifting toward a neutral or even expansionary monetary policy. Panetta noted that the Eurozone economy remains weak, with no turning point visible in the manufacturing sector. He emphasized the need for the ECB to adopt a forward-looking approach, as excessive tightening of current monetary policies is no longer necessary.
Robert Müller, another ECB official, remarked that there is no need for larger-scale measures at this time. He also hinted at the possibility of a 25-basis-point rate cut in December.
EURGBPI think this pair is still tanking from this region after pulling back to the support zone. I will go short for a tp 2
EURGBP BUY LONGBREAK RESISTANCE If you haven't already entered GET IN AT in at:
Entry:0.83600
TP: 0.84012
TP2: 0.84200
SL 0.83400
EURGBPEURGBP weekly chart shows that the price is approaching a strong support zone of 0.83088-0.82346. If the price fails to break through the 0.82226 level, a rebound is likely. Consider buying in the red zone.
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EUR/GBPEUR/GBP has finally gave us a third touch along with with a bullish hummer which also closed right on our strong horizontal support.
EURGBP TRADE ENTRY IDEAOn this Pair, we are anticipating for a BUY CONTINUATION, why? the Trend of this Pair is still BULLISH, price pullback to the 4H ZONE, which we refine to the 1H, we saw our ENTRY CONFIRMATION, AND We have Other Confluences, You can add to your watch-list if this SETUP matches with your Trade Setup.
EURGBP upBreak of Bearish Trend channel multiple times
tested support heading back to created resistance
respecting 61.8% Fib
All looks to saying the EUR should from technical perspective should gain .
Trade idea - EURGBP Long 4H
Deceleration box received at entry zone.
= Instant market execution Buy.
1.5% risk.
Aiming to take full profit at Daily TP.
Possibility of uptrend It is expected that an upward trend will be created and after crossing the previous ceiling range, the continuation of the upward trend will be formed until the specified resistance range. If the price crosses the green support zone, the above scenario will be invalid.
EURGBP Technical Runover - Trade Of 2024.EURGPB has fallen to key lows amid a weakening of the EUR against the GBP, a currency that it is usually well on par with.
These key levels are great for entry as they naturally rise probability and are preferred by the larger money market.
If you check over the last 8-9 YRS, larger rallies have existed post fall to the same area. Large buying up and no serious deviation of value in the pair.
EUR/GBP Technical Analysis and Trading Plan for Next Week Wave Structures and Harmonic Patterns:
The current wave count suggests that price action is completing a higher-degree corrective pattern.
The presence of a potential Wave C up to a swing failure pattern (SFP) hints at exhaustion of buying pressure.
The 0.618 and 0.786 Fibonacci retracement levels align with resistance zones, providing targets for potential reversals.
Key Levels and Fibonacci Confluence:
Resistance Zone: The 0.84250-0.84473 region acts as a key reversal area marked by the 0.786 Fibonacci retracement.
Support Zone: The 0.83247 level aligns with the 0.618 retracement, serving as the invalidation point for bullish setups.
Order Block Areas: The marked shaded regions reflect historical buying and selling activity that can trigger significant price reactions.
Volume Profile:
High-volume nodes indicate areas of significant interest and potential consolidation. Price reactions around these levels may signal breakouts or reversals.
Swing Failure Patterns (SFPs):
The chart features a swing failure pattern near 0.84473, suggesting that an attempt to break this high might lead to a reversal if rejected. This level should be monitored closely.
Step-by-Step Trading Plan:
Short Setup:
Entry: Consider short positions near 0.84250-0.84473, where confluence with Fibonacci and historical resistance exists.
Stop Loss: Place stops above 0.84473 to protect against a breakout.
Target Levels:
Initial target at 0.83850 (0.382 retracement).
Secondary target at 0.83247 (0.618 support).
Long Setup:
Entry: If price action consolidates and holds above 0.83850 without triggering the short scenario, a potential long opportunity may arise.
Stop Loss: Below 0.83247 (invalidation of the bullish scenario).
Target Levels: Look for a move towards 0.84473 and beyond, contingent on a break of the SFP.
Validation and Invalidation Points:
Bearish Invalidation: A sustained move above 0.84473 confirms the invalidation of a short bias.
Bullish Invalidation: If the price closes below 0.83247 and sustains this level, the bullish setup is invalidated.
Key Takeaways:
Volume and Order Flow: Watch for shifts in volume and the direction of order flow as they indicate potential bias changes.
Wave Completion: Ensure that Wave 5 aligns with structural resistance and volume divergence for high-conviction trade setups.
Risk Management: Always adhere to strict risk parameters, ensuring no more than 1-2% risk per trade.
EURGBP, Bullish ChannelBullish Channel
Trend reversal from strong support
new high formation
expected further bullish move
Buy @ cmp
SL below HL
Target 1:1
BUY EURGBP - Price Action strategy explainedTrader Tom, a technical analyst with over 15 years’ experience, explains his trade idea using price action and a top down approach. This is one of many trades so if you would like to see more then please follow us and hit the boost button.
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EURGBP: A Trade You Don't Want To MissEURGBP: A Trade You Don't Want To Miss
This is an analysis I posted before and nothing has changed so far. P
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!
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EUR/GBPOn Monthly, past 52 Weeks Lowest price line was touched and created Engulfing Bearish Candle.
On Weekly, price is below 200, 50 and 20 EMA but it just broke through 0.83400 Resistant.
On Daily, price is hitting lower trendline while price is below 200 & 50 EMA.
On 1H chart, you can see that price is above 200, 50 and 20 EMA and it's coming down to confirm 0.83400 Resistant that now it's Support.
In lolwer time frames seems price is bouncing back up unlike Monthly candle. this could be a reversal at most or a temporary pull back.
In short tem, i would predict Bullish move.
EURGBP Is Approaching The Daily TrendHey Traders, in today's trading session we are monitoring EURGBP for a selling opportunity around 0.84100 zone, EURGBP is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.84100 support and resistance area.
Trade safe, Joe.
EURGBP to find sellers at market price?EURGBP - Intraday
The primary trend remains bearish.
Our short term bias remains negative.
Preferred trade is to sell into rallies.
20 1day EMA is at 0.8338.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
We look to Sell at 0.8338 (stop at 0.8362)
Our profit targets will be 0.8278 and 0.8268
Resistance: 0.8320 / 0.8345 / 0.8370
Support: 0.8307 / 0.8290 / 0.8260
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EURGBP Will Collapse! SELL!
My dear friends,
Please, find my technical outlook for EURGBP below:
The price is coiling around a solid key level - 0.8338
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 0.8301
Safe Stop Loss - 0.8361
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
15-11 EURGBP15-11 EURGBP We are early here. An uptrend of this pair. The current GDP growth figure from the UK is -0.1% which is a deterioration of the economy. We execute a buy here with a long range linked to it starting at 0.83470.
EURGBP | Long Opportunity with Strong Weekly SupportI'm watching EURGBP on the weekly timeframe as it approaches a strong support zone between 0.8200 and 0.8275 . The pair is currently in a corrective trend, signaling potential upside movement once the correction completes. The support zone has historically held well, indicating a potential rebound.
My stop-loss is placed at a weekly close below 0.8140 to protect against further downside. The first profit target is set at 0.8700, with the second target left open for potential extended gains depending on market conditions.
EURGBP | 14.11.2024SELL 0.83150 | STOP 0.83600 | TAKE 0.82700 | Technical data suggests that the EURGBP pair will continue to move in a downward trend with possible slowdown dynamics. The pound shows more stable dynamics, supported by neutral macroeconomic indicators and a smoother decline in interest rates.
