Printable View
The opening price is above pivot 0.8650 which indicates the uptrend.
Support Level: 0.8636, 0.8612, 0.8598.
Resistance Level: 0.8674, 0.8688, 0.8712.
The MACD histogram is below the zero level.
Parabolic SAR indicator (step 0.02, max 0.2) indicates the price is moving up.
Trading recommendations: Buy.
TP: At the resistance level: 0.8674, 0.8688, 0.8712.
SL: One level below the entry point
So EURGBP has continued pushing downwards and weekly seems to have further potential for further lows.
Right now expecting it to possibly retrace upwards to test some past support levels, failure will allow us to resume down move
We have some good retracement that tested 0.8715 but bounced off 4H MA and went even higher. It seems glued to this 0.876 level with lots of wicks up and down indicating a fight between bulls and bears and this was also a past support level that was testing about 4 to 5 times. Weekly shows a really strong bounce but if we fail here, I am expecting 0.862 to happen
Hello. My long term view on EUR/GBP, in which I am currently short:
After the 2-leg move up (yellow on chart) I expect the pair to correct over the next few months. My 1st target is around 0.78, roughly the middle of the congestion area of the 1st half of 2016 when EUR/GBP was on its way up, although it may well go even lower (pink). After this multi-month correction, I would expect EUR/GBP to resume rising on to new all-time highs (green arrows)
My current trades have roughly a 3-1 expected reward-to-capital at risk ratio, given where my SLosses sit at present. Hopefully the pair will continue moving down and allow me to lower SL
I am posted weekly chart. And yes, I am intrigued by what forces will make GBP , in its current political mess, outperform the EUR! Brexit reversal?? Who knows!
Bought @ 0.88530 and added another entry after Euro/Usd presented no signs of a serious pull-back.
This asset is in constant divergence with Gbp/Usd so the fact both came down from the 16th is an indicator in my view of the market.
Previous weekly low.
Price action on small timeframe, modest, but it`s there.
Low risk trade, S/L at -142 pips.
UPDATE:
LOST
Next target @ 0.87500 with S/L below previous weekly low 0.87299 to be sure.
Hoping for a positive GBP news wednesday when Average Earning Index and Iflation Raport Meeting happen
Getting short on a sell signal @8848 with second position waiting at 8858.
RENKO BRICK SIZE = 6.4 PIPS (10% of 20 ADR)
BUY @ 0.88220 - S/L @ 0.88027
Decided to test out this level as well, after appealing price action.
Divergence in relation with GBP/USD has deepend at this pair.
There is a monthly golden ration at this level.
Weekly low as support and S/L target (-194 pips).
Trade prior FOMC, let`s see.
Price action on the pair is operating in a descending channel (navy coloured) and currently southward of the channel resistance. There seems to be more room southward, particularly if the support trendline (magenta) on the weekly time frame is broken down.
Trade safe and prosper.
Bought with market entry at 0.87888, S/L below weekly low, right after 1h price action was confirmed.
There is divergence in raport with GBP/USD formed since 14.02
There is weakness on the small timeframe.
There is a weekly trendline and altough price dosen`t touch it really in my chart, it can be considered, as trendlines are