The pair seems to have found its support around 0.84350. The buyers may push the price towards the North. It may find its next resistance around 0.86200.
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Are round numbers the most important aspect of your trading style?
Order flow still looking bearish to me for the long term - this could play out though
EURGBP is a bit of a mess right now, will be leaving alone this week.
The pair has been heading towards the downside by obeying a trend line. It produced a bearish reversal candle last Friday. It may remain bearish for a while.
EURGBP trade idea
EUR has fallen hard to day over GBP and is in discount for buying opportunities.
From here I well be looking for the 70% and 79% fib levels. Looking for a liquidity run on the lows in to an area of interest. I have 2 marked out but I would prefer the grey box as my entry zone. Currently we are are market close so not the best time to be trading. Will be watching in London open for the opportunity for the set up.
Let me know what you think of this and I will get back to you with an update later on.
Interesting fib levels you’re using.
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Would you use fibs in your own trading?
always great tool
glad you like them good targets
EURGBP Buy idea
My current look for EURGBP this pair has pulled back massive over the last few weeks after everyone seen it turning bullish.
With the break of the trend line and the retracement back to the 79% and in to an area of interest this pair is on my watch list.
This is a daily chart and marked out are 2 key areas I will be watching on the lower TF in London open.
Looking for BOS in 5/15 min TF to show willing to break up for the daily session with my first target back to the 50% level and partials taken there.
Keep a close eye on market structure and remember key entry and price action will be needed.
Let me know what you think of this set up.
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Looks like a tight range, there is a low resistance run above so could be very nice
The pair seems to have found its support at 0.83450. The price bounced at the level twice. It made a good bullish move. It is in consolidation now. A breakout above the last swing high may push the price towards the North.
EURGBP trade update and outlook
EURGBP traded up nicely of the area I marked out last week and is running for 6% at the moment and not far from my TP. This pair has now retraced and nearly back up to the sell side of this pair. I have moved SL up to lock in 4%. Marked up above the TP is 2 areas where I will be watching price the lower of the zones are back in to a daily OB and consolidation range so could be more reactive.
Looking for a short term sell option back down to the 0.8400 level but we will have to wait to see what price will do this week.
Let me know if you caught the trade and your set ups in the next week.
The H4 chart shows that the pair is traded within a range. A bullish breakout above 0.84700 may push the price towards the North. The price may find its next resistance around 0.85400.
Still going in the right direction, getting close to your TP. Solid trade to catch.
EURGBP Sell Opportunity
Currently this pair is still trading bearish on the daily and 4 hour set ups. We have taken profit from our last trade and now looking to see what price will do. Currently apart for a small FVG marked out in the sell entry and market structure these are the many confirmations to the sell idea. There are no news drivers for EUR or GBP today there for a continuation move would make sense.
With this idea I would suggest a 1/2 risk trade and move SL early.
Let me know if you catch this trade and your set ups in the next week.
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I think your reward is modest, could go lower again
In short-term, I am bearish on EURGBP trading pair (on H4)! On the other hand, in long run I’m neutral here since we are in a range market!
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We have been in the ranging market for so long now. Im hoping for a breakout soon