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...
It is moving towards a W formation on the daily chart . target1: breakout level after consoldiation target2: breakout level
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 and the hourly is turning up against .8679. While above there the pair can see a turn higher.
Great 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...
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:...
The pair ended a cycle in wave (1) at .8276 where the 4 is turning up. While above the .8421 lows where the hourly right side is up it can see a bounce correct the cycle from the .9331 highs from 8/12/2019 where the daily is turning down.
Sell Below 0.89600 Stoploss- 0.89900 Target- 0.89200-0.88850 Reasons for trade- 1. Price is near to daily channel resistance formed in Aug 17 2.4 Hour chart has formed double top pattern and took resistance twice from 0.89900 levels. 3.multiple support taken near 89.630 which has become weak now. 4.Risk Reward Ration is more than 1:1.5
On 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.
A small intraday trading idea on the EURGBP 15 mins chart. Can be held post the target for more upside considering the targets on the lower timeframes. This is a small intra-day trade for me.
From our analysis, EUR/GBP is expected to be bullish until 0.87900 since the movements is in sideways