As you can see by the graph, EURGBP has hit a consistent resistance around the 0.8911 mark. This is indicating that the pairing will drop to the 0.885 support and either break through to 0.8858 and beyond or rebound back to the resistance at 0.8911. This trade can be seen on H1 and H4 timescales so should be easy profit within the next couple of days.
This setup is so damn simple it is unreal... yet most people wont see it as they have been taught to use all these rubbish indicators so they get blinded by the b#llshit!
People want you to feel like you don't know what you are doing in the markets so you think you need help and pay from there services, then when you do join they teach you completely the wrong...
Following the Head and shoulders pattern break down, and perfectly respecting the slanted neckline, we have since seen further continuation to the downside.
Right now, we are seeing what I call a complex pullback which can be used to build a high probability entry zone.
First we have the Level of historic structure that has been respected more often than its...
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...
Small counter trend opportunity on the lower time frames on the EurGbp, coming off a decent resistance level and massively overbought on the RSI we can see some relief, conservative targets taken as it is only a relief trade,
Last week the market ranged around 50Pips, and couldn’t break through the resistance level of 0.89311 or break support of 0.88895. We are looking to short this pair if we see a retest of resistance once we see some candlestick confirmations on a lower time frame.
EURGBP's price action has been defined by bullish momentum for the past month, taking it to near the upward limit of the pair's current downward channel. As price has stalled over the past week (10-14 June), when encountering the long-term pivot point at the 0.89 level, we expect a bearish breakout to at least the 23.6% Fibonacci retracement level, and perhaps beyond.
Here we have 2 key zones marked out that have been used as strong support and resistance before and WILL be used again.
What we might see here is a slight pullback in price to our lower zone after days of bullish movement before a final push higher to our upper resistance zone.
I'm currently watching Tyson Fury fight, he is going to smash Schwarz... just like me...
EURGBP is currently still in an uptrend. Looking for any sell opportunities at current price is not wise. trade the trend and buy this pair until we reach the daily supply zone that i have marked up.
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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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