EUR GBP sell at 0.9286 SL----0.9338 Tp1----0.9255 Tp2-------Open
So far we have been long on this coin, it's time to change direction. We are a few dozen pips from a powerful double top pattern in the daily graph that will surely lead some declines. The Stochastic is also in Overbought with cross lines. The pound against the dollar is on serious support which could accelerate increase very soon. Target: 0.9050
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It's a short. EU rallied and failed badly at huge resistance. it's highlighted by the blue line at the top. it didn't even touch and failed just below it. I've managed to enter at 0.91652, but one can still enter short positions at 0.9130-0.9135 range. downside will be huge.
The eurgbp above the important moving average lines (200,100,50). The above upward trend has been going on for about 3 years and there are no technical signs of a change in the trend. The eurgbp crossed its resistance this week at 0.9038 and is on the way to test its next resistance at 0.9284 Target: 0.9284.
this analysis is showing both ways warnings! so with evolving and every new information and move that the market is making we can read the intentions but everything can change, so ill try to explain euro pound here. on daily tf is showing big divergence and is at the daily resistance and after the first motive 5 wave structure we can take all that (white...
EURGBP broke the support horizontal and trend line, it may still go down.
The pair finally looks ready to move lower. We have printed a sizeable red candle yesterday at a very strong area of resistance and we see a clear RSI divergence marked by the purple arrows. What Im looking for to enter this trade is something like this (check below 4H chart)
Sell signal: The stochastic indicator at the highest level (warning of an optional trend change). The eurgbp is close to the resistance at 0.9040 (sell close to re Target: 0.8780
The cross is receding 0.06% at 0.8978 and a break below 0.8948 (21-day SMA) would expose 0.8872 (low Jun.20) and then 0.8826 (low Jun.5). On the flip side, the next hurdle is located at 0.9010 (monthly high Jul.10) seconded by 0.9062 (low Jan.11) and finally 0.9092 (2019 high Jan.3).
Analysis team placed sold EURGBP @0.8968 with the target @0.8877
I am Waiting for the breakout and preferably to retest the broken trend line support turning into resistance. then am going on a short for this pair.
A double top pattern that will cause declines Stochastic range 80, high range indicating a possible market correction. A market price correction signal at the market price, rather than a trend signal Target 0.8920
Analysis team sold EURGBP @ 0.88879 with the intra day target @0.8872