Hello Traders, here is the full analysis.
I think EURGBP will bounce off next support and grab liquidity to rally up to 0.87... zone. GOOD LUCK! Great BUY opportunity EURGBP
I still did my best and this is the most likely count for me at the moment.
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EURGBP is consolidating, and probably it is about a sell-off.
Price move is in the descending channel. making lower lows.
The market is printing a potential AB=CD pattern, and recently it made a sharp move, which is AB leg.
We anticipate a compression channel breakout and retest of the support level as well as a Fibo extension...
On Tuesday's session, the FX:EURGBP was observed at 0.8605, experiencing slight gains of 0.15%. Following two days of declines and encountering robust support at the 0.8600 level, bears took a break. Despite this, the daily chart still presents a neutral to bearish outlook, and this bearish tilt remains apparent in the four-hour chart as well.
The indicators on...
The EURGBP has shown a downward trend, with its current movement suggesting a retracement. There might be a chance for a potential short trade if it retraces into this 4-hour order block. Remember, this isn't financial advice; it's purely educational content.
EURGBP broke and closed below the support level; breaking the channel, and it will most likely go down further.
The market made a sharp move down from the resistance level on the D chart.
We expect a breakout pullback and continuation price action.
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🕛 TOPDOWN - Navigating a Sideways Consolidation
Overview: This pair has been trading in a sideways range between 0.9501 and 0.8260 since 2017, establishing a considerable consolidation area. The monthly chart reflects a vast consolidation region, making it one of the most consolidated pairs in forex, lacking a clear direction. On the weekly chart, after forming a...
EURGBP makes higher lows and higher highs. It bounced off the daily support level.
The market broke and closed above the resistance that became support.
Price also broke the consolidation zone that will act as support.
We anticipate a pullback to support and continue the trend.
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Here is my analysis for EURGBP on H1 using Order Block. The price could go bearish, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
EURGBP pulled back to resistance, then made a massive sell-off.
Price move is in the ascending channel, and it's printing an AB=CD pattern.
We anticipate a bearish move from the psychological level at 0.87000 and a retest of the support since the market is consolidating.
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Analyzing the EUR/GBP 1-hour chart provided:
Pattern Recognition:
- The chart shows a recent decline from the 'Premium' level, indicating a resistance zone.
- The price is currently approaching the 'Equilibrium' level, which may act as a short-term support.
- A series of lower highs from the 'Weak high' suggests a potential downtrend in the making.
Trading...
EURGBP is making higher lows and higher highs.
The market broke and closed above the psychological level of 0.87000 that became support.
Price printed engulfing candle at confluence level is an indication of the bulls dominance.
We anticipate a continuation of the trend.
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EURGBP is creating the AB=CD pattern.
The market broke and closed above the resistance that became support.
Price tested the resistance level twice, and usually the third test leads to the breakout.
We anticipate a breakout of the resistance and the completion of the AB=CD pattern.
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Here is my analysis for EURGBP on H1 using Order Block. The price could go bullish, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
Pair : EURGBP ( Euro / British Pound )
Description :
Completed " 1234 " Impulsive Wave at the Lower Trend Line of the Corrective Pattern " Rising Wedge " in Short Time Frame. It will Reject from the Fibonacci Level - 61.80% or Previous Resistance Level forming Triple Top
Entry Precautions :
Wait for the Proper Rejection Price Action
As you can see, the market structure is bearish and we looking for a sell.
There is a bearish order block with liquidity that makes it even stronger.
Attention please: We need LTF confirmation for entry.
💡Wait for the update!
🗓08/11/2023
🔎 DYOR
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EURGBP is completing the AB=CD pattern.
We can see some divergence on the support level and a potential double bottom.
We expect the price to retest the resistance levels; if the price creates a false breakout at the support level, then the price may pullback, bouncing off the channel lower border.
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We expect further upside on this pair, signalled by the breakout of the pennant pattern. We can also see the formation of a new high and a breakout of two key levels which further supports our directional basis.
As you can see, the price penetrated the bearish order block.
Now we need LTF confirmation. I valid ChOCh occurs in 5 min. then we can buy.
Please pay attention to details.
💡Wait for the update!
🗓31/10/2023
🔎 DYOR
💌It is my honor to share your comments with me💌
