EURGBP - Intraday - We look to Sell at 0.8587 (stop at 0.8612)
3 positive daily performances in succession. We have a Gap open at 12/01 from 0.8511 to 0.8527. Intraday, and we are between bespoke support and resistance 0.8508-0.8587. The previous swing high is located at 0.8592.
Our profit targets will be 0.8428 and 0.8400
Resistance: 0.8587 / 0.8592 /...
A SHORT OPPORTUNITY HERE ON EURGBP, FROM A WEEKLY PERSPECTIVE IT LOOKS LIKE THE BIAS IS VERY BEARISH AND THIS IS THE BEST POINT FOR AN ENTRY THAT I HAVE IDENTIFIED ON A SMALL TIMEFRAME. THIS HAS FANTASTIC RR AND HAS A LOT OF CONFLUENCES SUPPORTING THIS MOVE. LETS SEE WHAT HAPPENS.
EURGBP (1H) - short term bearish bias
The euro's week-long rally came to a halt at the 4H resistance level of 0.8545. The rising moving averages and the trend line have been providing support during previous pullbacks. Now that the pair has broken to the downside, this is a confirmation that the 4H supply level is likely to keep the euro under water. After a few...
Daily is currently at a minor support level so we can see some relief to the green line. Double Bottom and then a break of the V Point on the 60 can provide a decent opportunity between the zones drawn in. 60 in itself isnt too convincing but you can use it as an entry for higher time frame perspective.
This week EURGBP has broken below the current year's low.
Bearish pressure is obviously prevailing and looks like the market is going even lower.
our next support can be easily noticed on a weekly t.f:
0.83 - 0.84 is our next demand zone from where we will expect a pullback.
as always, never trade without confirmation and...
EURGBP (1H) - short term bullish bias
The British pound strength might be challenged before the end of the week as pullbacks occur across the board. The euro has been gliding along the moving averages in a steady downtrend, but the latest double dip into the RSI's over-sold area has seen a bullish divergence which suggests a loss of momentum in the sell-off, and...
EURGBP is finally entering a strong demand zone .
There is a high chance to see a strong bullish impulse from the underlined area.
I will not trade aggressively and I will wait for a bullish breakout of the falling wedge pattern on 4H chart for confirmation.
Target levels will be 0.864 and 0.872