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EURGBP | Steep Downtrend. Go Short!When it comes to the technical analysis of  EURGBP , considering the current market structure, this currency pair is still in downtrend. On chart, we can clearly see the steep downtrend and price also managed to break the previous support area S1. That means price is likely to continue moving downwards. So the best approach would be to wait until the price tests the S1trend line. If you find a strong rejection with bear candles, go short. Targets T1 & T2 are marked on the chart. What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis. If you find this technical analysis useful, please like & share our ideas with the community. Good Luck! Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Short
by FX-Storm2022
EurGbp could resume its up moveAfter reaching a high near 0.93, EurGbp fell strongly with a drop of 600 pips in just a week. After this drop, the pair started to consolidate and although it made some new local lows, these are marginal and the pair is contained in a falling wedge pattern. At this moment the price is trading in falling trend line resistance which is also confluent with the horizontal resistance at the 0.87 zone. As long as the recent low is intact, I favor gains and the previous high can be the bull's target.
Long
by Mihai_Iacob
7
EURGBP - FUNDAMENTAL AND TECHNICAL VIEW#EURGBP - Currently the MARKET SENTIMENT for EURGBP is slightly UP SIDE. The main reason for that is the POSITIVE RISK SENTIMENT for EUR. The reason for NEGATIVE SENTIMENT in EUR is USD SELL. All MARKETS including STOCKS are UP due to MARKET RISK being ON. It affects the EUR in a big way. - EURGBP can definitely go up to the high RESISTANCE LEVEL. EUR may be slightly WEAK due to USD STRONG at the moment. Accordingly, EURGBP can go up slightly until the 0.8867 LEVEL. And after that EURGBP can be SELL to 0.8352 LEVEL.
by benny_marshall
EURGBP - FUNDAMENTAL AND TECHNICAL VIEW#EURGBP - Currently the MARKET SENTIMENT for EURGBP is slightly UP SIDE. The main reason for that is the POSITIVE RISK SENTIMENT for EUR. The reason for NEGATIVE SENTIMENT in EUR is USD SELL. All MARKETS including STOCKS are UP due to MARKET RISK being ON. It affects the EUR in a big way. - EURGBP can definitely go up to the high RESISTANCE LEVEL. EUR may be slightly WEAK due to USD STRONG at the moment. Accordingly, EURGBP can go up slightly until the 0.8721 LEVEL. And after that EURGBP can be SELL to 0.8352 LEVEL. eurgbeurgbp
by benny_marshall
EURGBP - FUNDAMENTAL AND TECHNICAL VIEW#EURGBP - Currently the MARKET SENTIMENT for EURGBP is slightly UP SIDE. The main reason for that is the POSITIVE RISK SENTIMENT for EUR. The reason for NEGATIVE SENTIMENT in EUR is USD SELL. All MARKETS including STOCKS are UP due to MARKET RISK being ON. It affects the EUR in a big way. - EURGBP can definitely go up to the high RESISTANCE LEVEL. EUR may be slightly WEAK due to USD STRONG at the moment. Accordingly, EURGBP can go up slightly until the 0.8703 LEVEL. And before that EURGBP can SELL to 0.8443 LEVEL. eeurgbp
by benny_marshall