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GBPEUR trade ideas

Potential bearish drop off pullback resistance?EUR/GBP has reacted off the resistance level which has been identified as a pullback resistance and could drop to the 1st support that acts as an overlap support. Pivot: 0.8336 1st Support: 0.8301 1st Resistance: 0.8354 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
2
Bearish drop off pullback resistance?EUR/GBP has reacted off the resistance level that aligns with the 38.2% Fibonacci retracement and could drop from this level to our take profit. Entry: 0.8336 Why we like it: There is a pullback resistance level that aligns with the 38.2% Fibonacci retracement. Stop loss: 0.8369 Why we like it: There is a pullback resistance level that is slightly below the 61.8% Fibonacci retracement. Take profit: 0.8320 Why we like it: There is a pullback support level that is slightly above the 50% Fibonacci retracement. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
EURGBP: Caution Ahead, Watch Key LevelsHello, EURGBP has experienced some unexpected downside, but we've still seen profitable upside, especially on the conservative side—profit is profit! The 1W support has held up well so far, driving the price upward. To move towards the 1M PP, a solid cross and lock above the 1W PP is essential. However, caution is key at this stage, as a cross and lock below the 1D PP could lead to further downside. There will be no market updates next week due to vacation plans. Wishing everyone happy trading—let's make some profits! No Nonsense. Just Really Good Market Insights. Leave a Boost TradeWithTheTrend3344
by TradeWithTheTrend3344
EURGBP Wave Analysis 12 November 2024 - EURGBP reversed from long-term support level 0.8265 - Likely to rise to resistance level 0.8365 EURGBP currency pair previously reversed up from the long-term support level 0.8265 (former powerful support from the start of 2022) coinciding with the lower weekly Bollinger Band. The upward reversal from the support level 0.8265 stopped the previous impulse wave 3. Given the strength of the nearby support level 0.8265 and the oversold weekly Stochastic, EURGBP currency pair can be expected to rise to the next resistance level 0.8365.
Long
by FxProGlobal
2
EUR/GBP Daily AnalysisEUR/GBP has printed a bullish rejection of the sloping trendline coupled with MACD divergence. This may be at the beginning of another push to the upside. GBP was one of the weakest currencies on Tuesday after 'Claimant Count Change' data was released. This is the change in the number of people claiming unemployment-related benefits during the previous month and was over double the previous number. Look for opportunities to buy if you agree with this analysis and if it meets your strategy rules.
by FusionMarkets
EUR/GBP 4-Hour Bearish Continuation Trade PlanEUR/GBP on the 4-hour chart suggests a bearish continuation within a parallel channel. A Fibonacci retracement is drawn from the previous Lower High (LH) to the recent Lower Low (LL), highlighting potential resistance levels. An immediate sell order is placed at 0.8282, with a stop loss positioned above the last LH at 0.83418 to mitigate risk if the trend reverses. The parallel channel, showing consistent Lower Highs (LH) and Lower Lows (LL), reinforces the bearish trend. For profit-taking, the first target (TP1) is set at 0.8222, and the second target (TP2) at 0.8162, aligning with the Fibonacci support levels. This setup confirms a continuation pattern, suggesting further downside within the established channel.
Short
by Naqash16046
Join My Bullish EUR/GBP Journey!Hey Traders! Today, I'm excited to share my bullish trade idea on the EUR/GBP currency pair. As we navigate through the current market dynamics, I believe there are several key fundamentals supporting this upward bias. Current Market Fundamentals - Economic Indicators: The upcoming release of the Confederation of British Industry (CBI) retail sales data is anticipated to show positive trends, which could strengthen the GBP. A robust consumer spending report can create a favorable environment for the Euro to gain against the Pound. - Market Sentiment: Recent bullish candlestick patterns on the H4 chart suggest a potential reversal in the EUR/GBP pair. The price is currently hovering near the middle Bollinger Band, indicating a possible breakout. - Technical Setup: The pair is trading between the 23.6% and 38.2% Fibonacci retracement levels, suggesting consolidation with potential for upward movement. This technical setup aligns with my bullish sentiment. Utilizing Probabilities for Positioning In my trading strategy, I emphasize the importance of probabilities to make informed decisions. Here’s why: - Statistical Edge: By analyzing historical price movements and current market conditions, I can identify patterns that have a higher likelihood of repeating. This statistical approach helps me gauge potential outcomes more effectively. - Risk Management: Using probabilities allows me to set realistic targets and stop-loss levels, ensuring that I manage risk while maximizing potential gains. For instance, if historical data shows a 70% success rate for bullish movements after similar setups, I can confidently position myself for long trades. - Adaptability: Markets are dynamic; therefore, employing a probabilistic mindset enables me to adapt my strategy based on real-time data and changing conditions. This flexibility is crucial in maintaining an edge in trading. Conclusion With a bullish bias on EUR/GBP backed by solid fundamentals and a robust technical setup, I am ready to position myself for long trades using probabilities as my guiding principle. Let’s keep an eye on the upcoming economic data releases and market movements that could further validate this trade idea. Feel free to share your thoughts or any questions you may have! Happy trading! 1M: 2W: 2H: P.S. If you have any questions about how I trade probabilities with the overall market direction, feel free to reach out.
Long
by Jasminex1x2
1
How Exchange Rates Affect International BusinessesHow Exchange Rates Affect International Businesses Exchange rates directly affect the cost of goods and services in international trade and can have a substantial impact on a company’s revenue and profit margins. Foreign exchange risk refers to the potential financial impact caused by fluctuations in the value of currencies. Companies with cross-border operations are particularly sensitive to it. This FXOpen article looks at how changes in exchange rates influence different companies in general, why they can do it, and how they affect the operations of international business. Types of Exchange Rate Influence In essence, foreign currency exposure is driven by the uncertainty associated with the future exchange rates of two currencies and has a material impact on a company’s financial position. To gain a deeper understanding of the impact of this risk on businesses, it’s crucial to break it down into its primary types. Transaction Influence Transaction influence is a risk in international business that refers to the potential gains or losses arising from the conversion of one currency into another for immediate transactions. It arises from fluctuations in exchange rates between the time a transaction is initiated and the time it is completed. Imagine a British company invoices a European customer in euros but settles with the customer three months later. A shift in the EUR/GBP exchange rate during this period may noticeably change the final amount of funds received. Translation Influence Another aspect to think about is the relationship between currency risk and businesses that have subsidiaries in other countries. Translation influence, also known as accounting risk, primarily affects multinational corporations with affiliates operating in different currencies. It arises when these companies consolidate their financial statements by translating foreign currency assets and liabilities into the reporting currency. Fluctuations in exchange rates can lead to changes in reported earnings, which creates challenges for financial analysis and decision-making. Economic Influence Considering a more global risk, it’s vital to pay attention to the economy as a whole. The economic impact is long-term and can change a company’s overall competitiveness and value. It affects a company’s international investments and may influence its strategic decisions. For instance, the economic landscape can affect the relative prices of a company’s products or services. Thus, manufacturing in one country and selling in another may become unprofitable, and the company will have to find new markets. Factors Contributing to Exchange Rate Changes To better understand the foreign exchange risk in international business, let’s start with an examination of the factors that contribute to it. Three main areas to keep in mind are market movements, economic conditions, and political stability. Exchange Rate Volatility Exchange rate volatility is a foreign exchange market risk. You can track currency changes by looking at the movement of currency pair quotes on international exchanges and special platforms like TickTrader. Market players, namely large companies, banks, institutional investors, and traders, influence the quotes by their actions. When exchange rates are highly volatile, companies face greater uncertainty about the future. This may hinder forecasting and managing cash flows. Macroeconomic Factors Macroeconomic factors such as interest rates, inflation, and economic growth are something that multinational companies need to keep an eye on. Changes in these factors lead to shifts in the value of currencies, directly affecting international businesses engaged in trade and investment. To keep abreast of global and local economic news, you can gather information from a variety of reputable sources and regularly check the economic calendar. Political Instability Political instability in a country can disrupt the stability of its currency. Sudden changes in government, politics, or geopolitical events can lead to fluctuations in the value of currencies, creating a corporate risk for companies operating in these regions. To keep up with developments, traders may read the news regularly and use the Political Stability Index. It is one of the indices developed by the World Bank, and it measures perceptions of the likelihood of the destabilisation of the incumbent government. Impact of Exchange Rate on International Businesses Now that we’ve explored the nature and contributing factors of the exchange rate effect, let’s examine how it can affect international businesses across various dimensions. Financial Implications - Revenue and profit fluctuations. Foreign exchange rates can affect a company’s revenue and profits. Fluctuations lead to unpredictable shifts in the value of international sales and could enhance or worsen a company’s financial performance. - Cash flow challenges. Cash flow management becomes more complex. Currency fluctuations can impede predicting the timing and amount of incoming and outgoing payments. This often results in cash deficits or surpluses, making it harder to meet financial obligations. Operational Disruptions - Pricing and cost issues. Another business risk of a company is that currency fluctuations may disrupt pricing strategies. It may be necessary to adjust prices frequently, which will negatively impact competitiveness and customer relations. In addition, changes in the cost of imported materials may increase the cost of production. - Supply chain disruptions. International companies typically rely on complex global supply chains. Disruptions will affect the cost of imports and make it difficult to manage contracts with international suppliers, potentially leading to delays. Strategic Considerations - Expansion decisions. Exchange rates can influence a company’s decisions to enter a new market and expand operations. Perceived influences related to certain currencies or regions can deter or encourage expansion plans. - Mergers and acquisitions. Companies should assess how currency fluctuations change the value of target companies. This is important since the results of the assessment will show the potential success and profitability of a merger or an acquisition. Final Thoughts Understanding the types of exchange rate effects, the factors contributing to them, and the potential impact on financial and operational performance is critical to effective management. Adopting sound strategies to mitigate the effects of currency fluctuations will enable companies to thrive in the global market. If you are interested in participating in global markets, you can open an FXOpen account and start trading. We offer forex pair and stock, index, ETF, crypto*, and commodity CFDs, so you can easily diversify your portfolio and minimise the business risk of your company related to exchange rates. *At FXOpen UK, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules. They are not available for trading by Retail clients.
Education
by FXOpen
4