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Stochastic is positive and RSI is breached 50 to the downside so we prefer to stay neutral. The short term trend of the pair is to the upside. Intraday trading range of the pair is expected among key support at 0.7925 and key resistance at 0.8135. Based upon my chart analysis, I prefer to stay aside from the pair until we get a confirm setup for the upcoming big move.
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Karen Jones, analyst at Commerzbank, points out that the Eur/Gbp continues to recover ahead of the .8941 October high and looks to have already resumed its up move.
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Forex Forecast with price level.
EUR/GBP - pair in focus.
Current Price - 0.9027
main support level - 0.8915
main resistance level - 0.9152
Pair likely to be in Sell today.
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I try to make analysis for eurgbp pair today.Eur/Gbp
Recommendation Trend is :sell
Recommendation : Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move.
Resistance level
1 Resistance level :0.90559
2 Resistance level :0.90767
3 Resistance level :0.91104
Support level
1 Support level : 0.89885
2 Support level : 0.89677
3 Support level : 0.89340
Don’t use high risk and please stop trading if the target has been reached, we should avoid greedy.
Regaerd :Kaka
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Time Frame - 4 Hour
Currency pair - EUR/GBP
Buy @ - 0.8995
Stop Loss - 0.8985
Take Profit - 0.9006
Risk reward ratio - 1 : 3
The pair may go bullish and possible retracement uptrend. Buy dips sell high.
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As we see from the Daily Chart included , the pair is moving down on a trending down channel from a large period , i expect this pair to move up but on a short term , it will go up till reaching the upper line of the channel then it will correct its direction by moving down again in the channel , we can now buy and make profit about less than 200 pips , but be careful the pair has not to move up with exactly 200 pips , it can move with 100 pips or 50 pips only , i suggest to set a small take profit point and not to be greedy as the pair is originally moving in a downtrend channel
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As we see from the Daily Chart included , the pair is moving down on a trending down channel from a large period , i expect this pair to move up but on a short term , it will go up till reaching the upper line of the channel then it will correct its direction by moving down again in the channel , we can now buy and make profit about less than 200 pips , but be careful the pair has not to move up with exactly 200 pips , it can move with 100 pips or 50 pips only , i suggest to set a small take profit point and not to be greedy as the pair is originally moving in a downtrend channel
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The short term trend of the pair is to the upside. Intraday trading range of the pair is expected among key support at 0.8070 and key resistance at 0.8260. Based upon my chart analysis, I prefer to buying the pair around 0.8135 with targets 0.8165, 0.8200 then 0.8260 and stoploss with four hour candle closing below 0.8070.
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The pair is stable below 0.8000, trading within a sideway range. Therefore, we remain neutral now , observing the daily closing around the critical level mentioned before, while we recommend reviewing our morning report for more details regarding the mentioned level.
Recommendation : Based on the charts and explanations above we remain neutral, awaiting more confirmations
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The pair breached 0.8045 and stabilized above it with four-hour closing and that activated the upside intraday scenario expected as mentioned in the previous report . The pair is trading negatively now and requires the return above 0.8045 to support our positive expectations.
Recommendation : Based on the charts and explanations above, our opinion is buying the pair with the breach of 0.8045 targeting 0.8170 and stop loss with four-hour closing below 0.8025; OR sell the pair with four-hour closing below 0.8025 targeting 0.7960 and stop loss with four-hour closing above 0.8045 might be appropriate