Get started

Eurgbpidea

Possible Breakdown In EURGBP | EURGBP AnalysisThe current market price of EURGBP is sitting at support area. Considering the previous Daily price action, the price is forming lower highs into the support area which means buyers are not strong enough and sellers are rejecting any jump in price. The current price actions is forming a DESCENDING TRIANGLE, which is a bearish pattern. But it will be activated only when the Daily candle closes below the neckline of triangle, which in this case is the support area of 0.8718-0.869 Once, the daily candle closes below the support range, we can expect price to keep falling till 0.855, unless, the next daily candle closes back above the support resulting in FAKE BREAKDOWN/FALSE BREAKDOWN/BEAR TRAP. HOWEVER, since price is at support, price may bounce. On going to Lower Time Frame of 30 minutes, i see a double bottom pattern which is a reversal pattern. If the pattern breaks out, i expect the price to move up. Falling trendline may act as a resistance, so make sure to book profits before that. CONCLUSION- 1. Price is at support and may bounce. 30 min double bottom has been formed. Breakout of pattern may result in jump in prices 2. If Daily candle closes below the support range of 0.8718-0.869, expect prices to fall till 0.855 Let me know in the comments section if you want me to analyse any other financial instrument. WARNING:- ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE TAKING ANY TRADE.
by rohitkukreja
EURGBP | Good Sell Opportunity. Get in!When it comes to the technical analysis of EURGBP, you might get an impulse to the downside. Based on my technical analysis , there aren't many supports till the Target 1. So you may use this as a sell opportunity. If the price breaks Target 1, you may keep the position till Target 2. If you are going in, better find a pullback. I have marked a good entry area on the chart; you may use it as an entry area. And also don't forget to place the stop just above the entry area. What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis. If you find this technical analysis useful, please like & share our ideas with the community. Good Luck! Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Short
by maxprofwizard
BUY EURGBP!!!On Friday, EURGBP hovered around 0.89400 levels which holds a good support according to both Bollinger Bands and trend channel formed in 4 hr chart. So, we can long this pair for approx. 0.90100 levels as take profit. It has high chances that price will test that range this coming week or maybe higher as we see from a Daily perspective. So, we are bullish on daily chart also. It is a great opportunity in EURGBP to grab!!!! Stay updated and follow me for more!!! :)
Long
by ng_forex