Another nice setup yet very simple trade. After a recent high this pair has pushed down to the support level and bounced nicely with a bullish engulfing candle which suggest it is on course to make a double top. I have gone long on this one and marked the tp and sl for your as well.
Let me know your thoughts.
Trade safe and good luck.
Waiting for a break and retest on EURGBP. Price is currently at a key level psychological level '0.8650', so I'm more biased towards this breaking out below.
Possible targets for the Breakout below: 0.8510-0.8450.
Hi traders,
Here we have a nice and very simple setup on EURGBP pair. This pair has recently created an excellent double top formation while RSI being overbought position and we have a nice bearish engulfing candle straight after the double top which suggests a reversal.
I have gone short on this one and I've marked the tp and sl for you as well.
Let me know...
Price is currently in consolidation ( moving sideward ) and is 40ish pips off our resistance zone, we think price will make a bullish run upto this zone and then bounce making bearish movement all the way down to our support zone.
Now we don't have an high impact news releases this week involving this pairing, but as we know around brexit anything can happen and...
I believe Bulls can gain the strength to break through the 0.86500 level. Euro pairs have been showing some signs of trying to regain strength to carry on its bull run. We do have some important economic data coming out tomorrow so this will be something to keep an eye on. Overall EURGBP is one for the watchlist.
Support level where the price is been bouncing and rejecting in a 4H chart.
I am expecting now the price to take momentum and continue to the upside to retest a strong support level thas has been broken.
Target 170 pips.
Support level where the price is been bouncing and rejecting in a 4H chart.
I am expecting to take momentum now and continue to the upside to retest strong support that has been broken.
Target 170 pips
As you cab see from this pair it has made retrace back to the trendline, at the moment price is going down I wont be entering the trade now. I'll be looking for another higher low to form and head back to the trendline. I will be watching the pair and waiting to see this to form if it doesn't then the trade will be not be on.
If it touches the trendline after...
The Euro vs. the British Pound. This pair represent a cross between the two largest economies in Europe, the Euro Zone and the Unites Kingdom. The pair is greatly less volatile than other Euro or Pound based crosses because of the economic closeness and interdependence between the two. Changes in monetary policy between the Bank of England and the European Central Bank can make this pair extremely sensitive.
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