DAily Breakout and retest set upI Anticipate a bullish rejection off these support and resistance levels
EURGBP trade ideas
Market Analysis: EUR/GBP Consolidates GainsMarket Analysis: EUR/GBP Consolidates Gains
EUR/GBP is rising and might climb above the 0.8435 resistance.
Important Takeaways for EUR/GBP Analysis Today
- EUR/GBP is gaining pace and trading above the 0.8400 zone.
- There was a break above a connecting bearish trend line with resistance at 0.8330 on the hourly chart at FXOpen.
EUR/GBP Technical Analysis
On the hourly chart of EUR/GBP at FXOpen, the pair started a decent increase from the 0.8320 zone. The Euro traded above the 0.8365 resistance level to enter a positive zone against the British Pound.
The pair settled above the 50-hour simple moving average and 0.8380. The pair traded as high as 0.8434 before there was a downside correction. There was a move below the 23.6% Fib retracement level of the upward move from the 0.8321 swing low to the 0.8435 high.
However, the pair is stable above the 0.8400 support zone. The next major support is near the 50% Fib retracement level of the upward move from the 0.8321 swing low to the 0.8435 high at 0.8380.
A downside break below the 0.8380 support might call for more downsides. In the stated case, the pair could drop toward the 0.8365 support level. Any more losses might call for an extended drop toward the 0.8320 pivot zone.
The EUR/GBP chart suggests that the pair is facing resistance near the 0.8435 zone. A close above the 0.8435 level might accelerate gains. In the stated case, the bulls may perhaps aim for a test of 0.8480. Any more gains might send the pair toward the 0.8500 level.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
change the trendIt is expected that the corrective process will end at the specified support levels and we will witness the beginning of the upward trend. If the price crosses the 78.6% level, the downward trend will continue
EURGBP TF 4H 41024 wait till price come into the zone and break out with big green/red candles
entry (TF 2h,4h)
SL at previous low/high
TP at Fibonacci
EURGBPWe can attempt to buy EURGBP from specified level as it break LH , also bullish divergence occur indicate that it moves upward.
SL , TP mention in chart.
possibility of reaction...Hello friends.
According to the drawn trend line and the reaction we had,
I expect to rise up to the specified range.
what is your opinion?
Good luck.
# Let's look simply
FX-Diaries: EURGBP 4H longI'm watching EURGBP for a while now but no interesting candle patterns yet.
Untill now...
If the current candle close is bullish engulfing as it is now, I'm all the way in bullish.
Candle close is 19:00 hours Amsterdam time.
Will explain later why
EURGBP - Exhaustion Reversal on 4HR using 15 mins and 5 mins timExhausted. Several rejections with long wicks. 4HR, 15min and 5min all pointing to a reversal.
EURGBP is BullishA strong downtrend seems to be exhausted as bullish divergence emerged on both daily and four hourly time frames. The bulls seem to be in control on the four hourly time frame as previous lower high is successfully broken and a higher high is printed instead. If the bullish momentum continues we can expect a bullish rally as per Dow theory. Targets are mentioned on the chart.
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EUR/GBP entry opportunityOANDA:EURGBP broke out of its strong resistance very strongly, we could profit off of its pullback, what do you think?
EURGBP trade for London or NY openTechnicals in respect to Fundamental analysis
Short either at the BS LQ( buyside liquidity) or at the 0.682 Fibonacci level, the choice is yours also avoid FOMO.
EUR/GBP BEST PLACE TO BUY FROM|LONG
Hello, Friends!
EUR-GBP downtrend evident from the last 1W red candle makes longs trades more risky, but the current set-up targeting 0.847 area still presents a good opportunity for us to buy the pair because the support line is nearby and the BB lower band is close which indicates the oversold state of the EUR/GBP pair.
✅LIKE AND COMMENT MY IDEAS✅
Check the trend It is expected that after some fluctuation and correction, the continuation of the upward trend will be formed. If the price crosses the 138% level, the continuation of the downward trend is likely
EURGBPCurrently on EURGBP on the daily timeframe took out the Monday lows on Tuesday and closed above them indicating a strong reversal to the upside, but on the 4hr timeframe price took out the CSD high and closed below it, and now price has to take out the CRL for the CSD before going up which will make low of the week on Wednesday.
Buy OpportunityTrade Idea: Buy EUR/GBP
Entry: 0.83300
1st take Profit: 0.83719
2nd Take Profit: 0.84183
Rationale:
Technical Analysis: EUR/GBP has shown strong Support near the 0.83100 level, with recent price action indicating potential for an upword move.
Resistance Break: A breakout above recent Support suggests Bearish momentum could carry the pair towards the 0.82500 level.
Risk Management: Place a stop-loss according to your risk tolerance and trading strategy, ensuring potential losses are controlled.
Disclaimer: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The analysis provided is for informational purposes only and should not be considered as investment advice.
Would You Take EUR/GBP Long? If Not, Why Not?EUR/GBP has fallen largely due to a weakening Euro and GBP strength (hesitancy from the BOE).
This weakness can only really go on for a limited amount of time before short side action stops and long side entries are filled in.
Investor longs likely to come through and occur.
EUR/GBP Bullish Reversal SetupEUR/GBP is at its major weekly support, with bullish divergence indicating potential upward momentum. A buy position is planned above the previous lower high for confirmation of a trend reversal.
EURGBP Bearish Continuation EURGBP has breached it's pivot point and mostly likely it will continue at bearish side because of following confirmations.
Trendline continuation
Crab pattern
Descending triangle
30-09-2024 _ Short Term Bearish Idea _ EURGBP H301. Strong Impulse to the downside.
2. Price action bouncing from the bottom of the channel.
3. Expect correction towards the mentioned zone.
4. Followed by further continuation to the down side.
EURGBP Short - Do You Even Check Fundamentals?I'd like to see at least one wick of a major past price point on the htf which will reset the longs before any potential up movement. In general, fundamental wise, I literally have no idea why people long EURGBP while its obvious that EUR will further decrease its rates while GBP stays at it.
EURGBP trade idea pt 1Everything on this pair is flowing in sync towards the downside. In order for us to get an entry we need price to now retrace back up to or around that zone area. We would then look for a new lower high formation ⚐
