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Eurgbpsell

EURGBP - RESISTANCE TESTED, IS THE SHARP TREND READY TO FLIP?Symbol - EURGBP CMP - 0.8460 The EURGBP pair is currently within the distribution phase (with a news-driven backdrop) and has tested the resistance level at 0.8461 and the associated liquidity zone. However, a false breakout has occurred, indicating a lack of sustained upward momentum. Meanwhile, the Dollar Index is experiencing a decline following the announcement of new tariffs by President Trump, which generally triggers a market-wide rally. However, in anticipation of the upcoming Non-Farm Payroll (NFP) report, the market is shifting towards profit-taking as growing risks become more apparent. Key economic news releases are expected, which could introduce significant volatility. From a technical perspective, following a strong price movement, the currency pair has formed a false breakout of resistance and is now consolidating within the selling zone. Should the bears manage to maintain the price below 0.8461, a short-term correction towards the 0.5 Fibonacci level or the Fair Value Gap (FVG) zone can be anticipated. Resistance levels: 0.8460 Support levels: 0.8427, 0.8396 The current market conditions are complex, driven by an unstable backdrop. However, from a technical standpoint, this scenario mirrors a typical false breakout of a significant resistance level, which, according to historical data, often precedes strong price movements following the breakout of key levels.
Short
by akshit_official
EURGBP Expectations: UK Inflation and BoE's Decision this Week EURGBP Expectations: UK Inflation and BoE's Decision this Week On Monday, the pound reached its highest level against the euro in 10 months, at 85.25 pence, as investors await the British inflation data and the upcoming Bank of England decision. However, the currency pair quickly rebounded to the support level of the previous week, at 85.42 pence, but is perhaps now tracking down again. In recent weeks, the sterling has experienced a rallied against the EUR and USD (particularly against the USD, marking its largest weekly gain since December 2022). This surge can be attributed to economic data suggesting that inflation in Britain is more persistent compared to the United States and Europe. As a result, traders have started factoring in more interest rate hikes from the Bank of England, leading to increased yields on British government bonds and bolstering the pound. Additionally, investors' expectations have been heightened by recent data showing a faster-than-anticipated growth in British wages. Currently, the pound is down 0.26% against the dollar, trading at $1.278. However, it remains close to the 14-month high of $1.285 reached on Friday. British inflation data is scheduled to be released on Wednesday. Economists predict that the headline Consumer Price Index will have slightly cooled to 8.5% year-on-year, down from 8.7% in April. However, they anticipate that the core CPI, which excludes volatile food and energy costs, will remain steady at 6.8%. If these figures align with expectations, the pound could strengthen further due to the anticipation of additional interest rate increases by the Bank of England. Nevertheless, any unexpected results could introduce volatility into the market, and perhaps validate the recent rebound in the EUR. On Thursday, the Bank of England will announce its decision on interest rates, with investors and economists expecting a 25 basis point hike to 4.75%. There is little uncertainty surrounding this decision, so traders will closely examine the bank's forward guidance. Indications of future interest rate hikes are likely to bolster the GBP.
by BlackBull_Markets
EURGBP sell at 0.87947 . Downward movement with Risk:Reward 2.6Hey Traders, hope you all are enjoying our ideas and analysis. Let us discuss EURGBP here. We can observe Breakout from the parallel channel in 30 minutes timeframe. We came up with Sell Trade with Risk:Reward ratio is 2.6 . Sell at 0.87947, with SL 0.88196 and Target 0.87330. NOTE: Published Ideas are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk. NOTE: RESPECT The risk. SL should not be more than 2% of the capital. Happy Trading
Short
by TanujaK