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GBPEUR trade ideas

EUR/GBP: PAT + VPA 11/2/2024Good morning, I will be closely observing the EUR/GBP currency pair on a daily basis, as I expect a bullish pullback or reversal to materialize in the forthcoming weeks. - 1W / Weekly Analysis: The market has recently dipped to a low of 0.839, with current support established at 0.832. The price has tested the 0.832 level multiple times without breaching it, suggesting a diminished appetite for selling at this juncture. Additionally, the presence of significant wicks accompanied by relatively smaller bodies may indicate a potential selling climax. - 1D / Daily Analysis: The daily time frame reveals the formation of a double bottom pattern at the weekly support level of 0.0832. Presently, the price is retesting the recent swing high of 0.84, which represents the latest peak. The price has demonstrated its capacity to remain above the 0.84 threshold, and I anticipate a continued upward movement towards 0.846 in the upcoming weeks. OANDA:EURGBP XETR:DAX TVC:BXY ThePipAssassin
Long
by ThePipAssassin
1
Stuck in the Triangle? EUR/GBP's About to Break FreeAlright, let’s break down this EUR/GBP setup! Looking at the daily, we see EUR/GBP recently had a strong bullish push, but now it’s hitting a bit of consolidation just above the daily support at 0.83950. That area has acted as a significant barrier before, so if price can stay above it, we might see another leg up. On the daily, the 21 EMA is below price, showing that buyers are still holding on, but it’s struggling to break out decisively above that 0.84242 level. Switching down to the 4-hour, we can see that price is coiling up in a tight range, forming a triangle pattern. This setup is perfect for a breakout trade – we just need to see which direction it wants to move. If it breaks above the trendline around 0.84000, we could look for a buy, targeting the next resistance at 0.84242, and possibly higher if momentum kicks in. But if it breaks down below the 0.83950 support, then we’re likely looking at a sell with a target toward 0.83573. So here’s the plan: wait for a solid breakout from this triangle pattern on the 4-hour. Look for an entry around the breakout area, keeping your SL just below the structure on either side. Remember, let the market show you the move; patience pays, especially with consolidation setups like this.
by SheenaL
Could the price reverse from here?EUR/GBP is rising towards the resistance level which is a pullback resistance that is slightly below the 50% Fibonacci retracement and could reverse from this level to our take profit. Entry: 0.8404 Why we like it: There is a pullback resistance level that is slightly below the 50% Fibonacci retracement. Stop loss: 0.8448 Why we like it: There is a pullback resistance level. Take profit: 0.8347 Why we like it: there is a pullback support that is slightly below the 61.8% 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
7 Dimension Sell Setup for EURGBP😇 7 Dimension Analysis Top-Down View: A daily internal swing breach indicates the possibility of a retracement to fill the Daily Fair Value Gap (FVG) area. Additionally, an H4 Change of Character (CHoCH) along with a major swing liquidity sweep suggests a move towards the H4 inducement area, which aligns with the H1 decisional order block and the Daily Bullish FVG, creating a robust buy Point of Interest (POI) for long-term entries. However, in this 15-minute analysis, we focus on the short-term bearish momentum for a counter-trend sell entry. Analysis Time Frame: 15-Minute (15M) Swing Structure: Bullish with BOS (Break of Structure): The 15M structure is bullish with a valid BOS, which took an inducement to confirm a swing high. Discount Zone: We’re waiting for the price to enter the discounted zone to mitigate the POI, which has been refined across multiple time frames. The target area is between 0.8340 and 0.8420, where liquidity is expected to be resting. Pattern: 🟢 Chart Patterns: Flag Pattern: An H1 flag pattern indicates strong sell-side momentum, reinforcing the idea of a retracement within this bullish structure. 🟢 Candle Patterns: Momentum Candles: Strong momentum candles closing bearishly indicate solid selling pressure in the area of interest. Volume: A noticeable increase in volume on the last candle suggests significant interest from sellers, supporting a bearish bias in the short term. Momentum (RSI): 🟢 Super Bearish Zone: Momentum is in the super bearish zone with a clear range shift, indicating that bearish pressure may continue in the immediate term. Volatility (Bollinger Bands): 🟢 Contraction and Squeeze: Following a volatile move, price contraction has led to a tight squeeze on the bands. A clear “M” pattern has formed within this squeeze, and we now expect a continuation of bearish momentum with a “walking on the band” move on the downside. Strength (ROC and DMI): ROC and DMI Analysis: The Bearish DMI line is sharply increasing, indicating strong bearish momentum. The setup suggests an anticipated strong selling attempt as the market opens. Rating: ⭐⭐⭐⭐ Probability: 75% Overall, the analysis provides high confidence in a short-term pullback, with several technical indicators and patterns supporting a temporary bearish move. Trade Setup: Entry Details: Entry Time Frame: 15-Minute Entry TF Structure: Bullish (counter-trend) Point of Interest (POI): Recent Order Flow Trade Execution: 💡 Decision: Sell Limit 🚀 Entry: 0.8379 ✋ Stop Loss: 0.8391 🎯 Take Profit: 0.8340 😊 Risk to Reward Ratio: 3.25 RR 🕛 Expected Duration: 1 Day SUMMARY: This short-term sell setup targets a counter-trend pullback within a larger bullish structure on the higher time frames. With multiple confluences including strong sell-side volume, bearish flag patterns, and clear RSI bearish momentum, this setup anticipates a retracement to the identified support zone. A Sell Limit order at 0.8379 seeks to capture the downside move towards 0.8340, offering a favorable 3.25 RR.
Short
by Optimum369
Could the EUR/GBP reverse from here?The price is rising towards the pivot and could reverse to the 1st support level. Pivot: 0.84541 1st Support: 0.84046 1st Resistance: 0.84860 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
EUR/GBPIn financial markets, "AB=CD" is a harmonic pattern that traders use to predict potential reversals or continuations in price movements. It's named after its basic structure: the price forms two legs (AB and CD) that are equal in time and price magnitude. A "bullish AB=CD" pattern suggests that the price is likely to rise. Traders look for specific Fibonacci ratios between the lengths of AB and CD, typically 0.618 or 1.618, to confirm the pattern. When these ratios align, it's seen as a signal that the price may continue to rise after completing the CD leg. However, like any technical analysis tool, it's not foolproof, and traders often use it in conjunction with other indicators and analysis methods to make informed decisions.
Long
by B9A-88652-NisarAhmad
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