EURGBPCurrent Trend(Upside)
TG1 = 0.89695
TG2 = 0.90090
Possible Current Trend Breakout(Short)
TG1 = 0.89058
TG2 = 0.88628
Eurgbpanalysis
EURGBPUpside Target (Upto Resistance Level )
TG1 = 0.92562
Reversal Targets
TG1 = 0.91680
TG2 = 0.91245
TG3 = 0.90643
Maintain Stoploss Ratio 1:3 {or As per Convenience}
Forecasting a Future of EUR/GBP with the bearish EWTEUR/GBP made here a bearish Elliott wave. I have applied the moving average also to forecast the trend. In the fifth wave, there is a symmetrical triangle . After the ABC correction, there is a hurdle at 0.8930 . Right now, the trend is moving under the hurdle . It is a bearish Elliott wave pattern. Therefore, it will fall more up to the target of 0.8816 .
But there is a possibility of the double bottom pattern the trend can rise, and it can break a hurdle . If the trend crosses the hurdle, it will hit 0.8960 .
SELL EURGBP!!!There's a strong resistance here(weekly). So, we can take a nice short here for the target shown in the chart!!! Prices also showing good pullback downside so, it may be a good trade for us !!!
Also, last week prices take good upside route and a recovery to downside is strongly expected from here...
That's all for now...
Follow for more!!! :)
EURGBP W formation Long Bullish continuationIt is moving towards a W formation on the daily chart .
target1: breakout level after consoldiation
target2: breakout level
EURGBP LONG TRADE SETUPThe weekly right side is up with a bullish sequence against the .6920 lows from 7/17/2015. The daily right side is up with a bullish sequence against the .8272 lows from 12/13/19. The 4 hour right side is up with a bullish sequence and the hourly is turning up against .8679. While above there the pair can see a turn higher.
EURGBP IDEA / Buy oportunityGreat buy opportunity on EURGBP
After a huge decline we finally start to see some indications of trend reversal
- The price broke the lower tunnel trend
- Price retested after breakout and seems to be holding
- we see now a potential double top setup on he hourly time frame before it bounces back again and keeps raising
TP1 range for short term trade buy
TP2 level after double bot breakout confirmation
EURGBP Trade Setup The weekly right side is up with a bullish sequence against the .6920 lows from 7/17/2015. The daily right side is up with a bullish sequence against the .8272 lows from 12/13/19. The 4 hour right side is up with a bullish sequence against .8561. While above there the pair can see a turn higher.
Short term signal
@87.14- 87.04
TARGET : 87.94
STOP LOSS: 86.70
GOOD LUCK !
EURGBP- Weak only below 0.89200 levelsOn weekly Chart Eurgbp has taken resistance 3 times from 0.91000.and Price has formed bearish engulfing candle too with long wick which suggest sellers are in control now. I will enter only if price breaks the Important level of 0.89200.
