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Last week price rallied to major resistance and, again, gave a sharp rejection. This week, so far, we have retested support from the supportive price area (green line) and the weekly 55EMA. Price is once again stuck within these ranging levels (between the red and green lines).
I am bullish on this pair BUT I am staying out of this market until a Brexit deal is ...
Reliable Resistance lines found. Fib Retracement and use of Trend-based Fib extension for support.
Can we keep making lows or is this the bounce we have been waiting for. News has yet again helped the bounce but will price make any gains.
Predicting a short on this pair, Following previous trend lines with the RSI crossover.
Looks like the downtrend on this pair will continue, waiting on the pair to hit the trend line, hopefully following the pattern its been giving us the past week or so. Not looking like there will be a breakout at the moment, will have to keep an eye on candle sticks the top of the up moves and the bottom of the down moves. Waiting to hit the next red zone to sell.
Potential head and shoulders formation. A fairly premature prediction admittedly, however the first peak and head are formed which makes it very likely we could be seeing a head and shoulders pattern being created. GBPEUR has hit support twice in this timeframe and it looks like it could be heading back down to support and if it doesn't break support by rising ...
I dont only ever short, I am bullish, occasionally. Currently following the downtrend evidenced, and seems to touch the top band, then reject it to go on and touch the bottom line. Recently touched the top, rejected and drop, and has climbed just above the mean value in the downtrend. Expecting a sell off again here.
long very long
Entered a short trade on GBPEUR
Since beginning of 2016 the value of the £ GBP has fallen 21% against the EUR from 1.4 EUR to 1.1 EUR to the GBP £.
The short term future of the GBP against the EUR does not look good and will likely see UK holiday makers going to other countries with different currencies simply to get away from the EUR.
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Brexit talks came to the second round - if some positive news will come out from UK or EU - it will push GBP higher.
This pair touched strong Fib Level and Major Uptrend line - very strong set up for Long position - however wait until something get broken.
BREXIT deal looks imminent. Market pushing GBP higher.
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My outlook on GBP/EUR next move to the downside. SHORT to about 1.0750, could take a month or two for this one to complete but there is about 450-500 pips up for grabs here.
After the correction caused by Carney last week - I think the GBP will re-establish its steady recovery against the Euro. Clearly there are big issues politically - and that could derail the recovery, but the growth of the UK economy surprised commentators last week - and from here in the UK it feels pretty solid. I think ultimately we will see 1.20 before we see ...
For me to predict whether the GBP/EUR is going to be either a uptrend or a downtrend, I use the EMA indicator to help me decide whether it a uptrend or a downtrend. I use the 200EMA to predict if the long term trend of the pair is going to be a downtrend or uptrend. If I wanted to know the short term trend then I would I would use either 10,20 or 50 EMA to help me ...
GBP/EUR Potential down trend any thoughts ?
On hourly chart, we can see bullish divergence with MACD, and a new bullish crossover hints a further advance.
Fundamentally, if BOE considers to raise rate given a higher CPI data this week, together with the easing of QE tapering in euro zone, the pair is about to move high rapidly.
See 1.1350 if price breaks 1.1291.