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EUR/GBP Exchange Rate Analysis: Key Insights and ProjectionsThe EUR/GBP exchange rate is a crucial indicator of economic dynamics between the Eurozone and the UK. Current fluctuations are driven by economic data, monetary policy expectations, and political events, with significant implications as the UK heads into a general election. Eurozone Economic Indicators and ECB Policy Persistent disinflationary pressures in the Eurozone, with the PPI falling by 0.2% in May. ECB may cut interest rates in Q3 2024 if producer prices continue to decline, potentially weakening the euro. Services sector growth slowing, with the final services PMI for June revised down to 52.8. UK's Pre-Election Economic Environment Cautious market sentiment towards the pound due to the upcoming general election. Hopes for a stable Labour victory supporting the pound. UK's services PMI for June eased to 52.1, reflecting a slowdown influenced by election-related uncertainty. Political Impact on Exchange Rates UK election could cause short-term volatility in the GBP/EUR exchange rate. A Labour victory might boost investor confidence and support the pound, while unexpected outcomes could increase uncertainty. Political stability in France supports the euro, despite broader economic challenges. Exchange Rate Forecast The EUR/GBP exchange rate will be influenced by the UK election outcome and ongoing Eurozone economic challenges. Current trading at around 0.8465, with political and economic developments being key drivers. Conclusion The EUR/GBP exchange rate reflects economic health and political stability in both regions. The imminent UK election and Eurozone economic indicators will shape its future direction, with potential volatility expected in the short term.
Short
by signalmastermind
EURGBP The Target Is DOWN! SELL! My dear followers, This is my opinion on the EURGBP next move: The asset is approaching an important pivot point 0.8465 Bias - Bearish Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 0.8451 About Used Indicators: For more efficient signals, super-trend is used in combination with other indicators like Pivot Points. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
EURGBP intraday rallies continue to attract sellers.EURGBP - 24h expiry Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. Price action looks to be forming a top. Intraday signals are bearish. Preferred trade is to sell into rallies. Bespoke resistance is located at 0.8485. We look to Sell at 0.8485 (stop at 0.8500) Our profit targets will be 0.8445 and 0.8425 Resistance: 0.8485 / 0.8500 / 0.8515 Support: 0.8455 / 0.8440 / 0.8425 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
EURGBP Will Go Down! Sell! Take a look at our analysis for EURGBP. Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 0.849. Considering the today's price action, probabilities will be high to see a movement to 0.845. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
2
Will EURGBP fill the gap?It's been 7 trading days already and the gap created on 10 June remains unfilled. It's not often that we see such PA in the forex market. After trying to 'runaway' I think that this market is now inching towards filling the gap. If/when that happens I will be looking for a bearish continuation. This is not a trade recommendation. Trading carries a high level of risk, so only trade with money you can afford to lose. Anything can happen in the markets at any time. Please use sound money and risk management in all your trades. If you like my idea, please give a “boost” and follow me to get even more. Please comment and share your thoughts too!!
Short
by Trading_Vista
EURGBP / Critical Volume Signals and Key Price LevelsTechnical Analysis: EUR/GBP (4H Chart) Current Price Action: The EUR/GBP pair is trading around 0.84722, near the pivot line at 0.84915. Key Observations: 1. Primary Support and Resistance Levels: Primary Support Line (Monthly): 0.83977 Primary Support Line (Yearly): 0.83393 Resistance Line: 0.85728 2. Supply Zone: - A sensitive decision area characterized by high volatility is identified around 0.85204 to 0.85394. 3. Support and Resistance Areas: Secondary Support Area: Around 0.84265 Resistance Area: Around 0.84915 to 0.85204 Scenarios: Bullish Scenario: Breakout Above Pivot Line: If the price can break and sustain above the pivot line at 0.84915, it could aim for the resistance area around 0.85204. A further breakout from this level could see the price move towards the supply zone and potentially higher towards the resistance line at 0.85728. Support from Rising Trend Line : The ascending trend line providing support suggests continued bullish momentum if it holds, potentially pushing the price higher. Bearish Scenario: Failure at Pivot Line: If the price fails to break above the pivot line at 0.84915, it could retreat towards the secondary support area around 0.84265. Downside Targets: Sustained bearish pressure could push the price further down to the primary support lines at 0.83977 and 0.83393. Today's Expected Trading Range: - The anticipated trading range for today is between the support level at 0.84265 and the resistance level at 0.85204. Pivot Line: 0.84915 Resistance Levels: 0.85204, 0.85394, 0.85728 Support Levels: 0.84655, 0.84576, 0.84265 Summary: - The EUR/GBP pair is currently at a critical juncture near the pivot line. A breakout above this level could signal a bullish continuation towards higher resistance levels, while failure to hold this level could see a decline towards key support areas. The next week's direction will be heavily influenced by the price action around the pivot line and the supply zone. Direction for the Next Week: Bullish Direction: Likely if the price breaks and sustains above 0.84915 and moves past 0.85204, targeting 0.85728. Bearish Direction: Possible if the price fails to break the pivot line and drops below the secondary support area at 0.84265, targeting 0.83977 and potentially lower to 0.83393. ------ There is also... Analysis Based on Volume Order Book (Expo) for EUR/GBP (4H Chart) The Volume Order Book (Expo) on the EUR/GBP 4H chart provides insights into the liquidity and potential price movement based on the distribution of orders. Here's a detailed analysis: Key Observations: 2.High Volume at 0.84915: There is a significant volume of 11.458M at the price level of 0.84915, which acts as a strong pivot point. This indicates that a lot of trading activity and interest is concentrated at this level. 2.Volume Clusters: Above Current Price: There are notable volumes at 0.85204 (5.866M), 0.85394 (4.434M), and 0.85728 (5.857M). These levels act as resistance where selling pressure might be strong. Below Current Price: There are significant volumes at 0.84655 (3.426M), 0.84576 (2.918M), and 0.84265 (2.647M). These levels act as support where buying interest is likely to be strong. Directional Bias: Bullish Indicators: Pivot Line Strength: The large volume at 0.84915 suggests that if the price can break and sustain above this level, it may indicate strong bullish momentum. Support Levels: The accumulation of buy orders below the current price indicates strong support around 0.84655 and 0.84265, which can provide a solid base for upward movement. Bearish Indicators: Resistance Levels: The substantial sell orders above the current price at 0.85204 and 0.85728 suggest that the price may face significant resistance, potentially limiting the upside.
Short
by SroshMayi
BUY EUR/GBP at market .8460 (again!!!)Ever since this pair opened with a gap (see chart) on the 24th June, I've been BUYING this pair in anticipation of the gap closing. Markets hate gaps and will try to close them. Usually when a pair open with a gap when the markets open, the gap is closed and then price will continue in the same direction as the gap. Examples of this can be seen on EUR/USD and EUR/CAD, both of whom opened with a gap. With both these pairs, the gapwas closed and price then dropped. I expected EUR/GBP to follow this pattern but it has yet to close the gap after 3 weeks of trading. As can be seen by the channel drawn, EUR/GBP remain in an uptrend. WR1 (weekly Resistance 1) at .8471 remains an obstacle to EUR/GBP BULLS. This level has been reached 3x this week and each time the price has reversed. I've closed my LONGS whenever the price hit WR1 and opened a position SHORT once it was confirmed that WR1 was holding. I'm back in LONG on this pair with STOP under the lows and under the 200 EMA on H1. Target is the closing the gap at .8490. It seems unlikey we will get anywhere near .8490 today and news at 13:30 is unlikely to move this pair much (US Core PCE Price Index).
Long
by forextraplaces
EURGBP Overbought RSI, buy opportunity.The EURGBP pair hit on June 14 the bottom (Lower Lows trend-line0 of the 7-month (dashed) Channel Down and is on the rebound. At the same time, the 1D RSI got oversold (below 30.00) and every time it did so in the past 12 months, it started a strong bullish reversal. More specifically the previous Bullish Leg of the Channel Down reached the 0.618 Fibonacci retracement level to form its Lower High. As a result, we turn bullish on this pair, targeting 0.85500 (0.618 Fib). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
EUR/GBP Technical Analysis## EUR/GBP Technical Analysis Timeframe: 15-Minute Chart ### Chart Overview: The EUR/GBP pair on the 15-minute timeframe exhibits detailed recent price action, incorporating several technical elements that suggest potential future movements. ### Key Elements: 1. Downtrend Channel: - The chart initially indicates a downtrend channel, with the price respecting the upper trendline as resistance and the lower trendline as support. - This channel suggests a bearish trend with lower highs and lower lows up to a certain point. 2. Breaking Out of the Channel: - Recently, the price appears to have broken out of the downtrend channel to the upside, indicating a potential reversal or at least a short-term bullish correction. - The breakout is accompanied by a consolidation phase just above the previous upper trendline. 3. Support and Resistance Levels: - Resistance Levels: Immediate resistance levels are noted at 0.84603, 0.85181, and above these, at the previous high around 0.8535. - Support Levels: Key support levels include 0.84571, 0.84578, 0.84206, and further below at 0.84042 and 0.8400. These levels have provided significant support in the past and could act as potential bounce points if the price declines. ### Conclusion: The EUR/GBP pair is currently in a critical phase, having recently broken out of a downtrend channel. The price action around key support and resistance levels will be crucial in determining the next move. Volume analysis supports the recent bullish breakout, suggesting potential for further upside if key resistance levels are breached. Always manage your risk with appropriate stop losses and position sizing.
by THE-10
EUR/GBP BUY at market (.8450)2 weeks ago the EUR/GBP opened with a market gap. Those of you who read my previous posts on this subject will know that I believe gaps in the market are ALWAYS filled. True, this can be weeks or even months but most commonly gaps are filled within 48 hours. Last week downward pressure prevented the EUR gaining on the GBP and the gap remained. I was moderately confident that the gap would be filled this week and I've had muliple LONG positions on EUR/GBP but every trade hit headwinds and were closed (at a profit). This morning we saw the EUR decline with the weak German and French manufacturing and Services PMI but this was followed by weak GBP Flash Manufacturing and Servicing PMI and a look at the H1 chart will reveal that this has left this pair in a definitive northerly direction. I've markeed the approximate path of the 200 EMA on the chart as, as can be seen, this was falling, then turned level and is now poised to head north. At 14:45 (45 minutes) we have trhe USD Flash manufacturing and Services PMI. I don't expect the release to have much impact on this pair. I'm happy to be LONG on this pair in anticipation of the gap being closed sometime next week.
Long
by forextraplaces
EUR/GBP Poised for Seasonal Upswing as July BeginsAs July kicks off, the EUR/GBP pair is entering a period of seasonal strength, supported by historical trends and favorable technical indicators. Historically, EUR/GBP has shown a tendency to perform well during this time of year, and this seasonality is further bolstered by the latest Commitment of Traders (COT) report. The report indicates that the Euro is currently the preferred asset among institutional investors, often referred to as "smart money." Recently, the EUR/GBP pair rebounded from the 0.8400 support level, a critical area that has provided a strong base for price action. This rebound, coupled with the seasonal patterns and smart money positioning, presents a compelling case for a bullish setup. Given these factors, we are now looking for opportunities to enter long positions on the EUR/GBP pair, anticipating continued strength in the Euro as the month progresses.
Long
by FOREXN1
1