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7 Dimension analysis for EURGBP 🕛 TOPDOWN - Navigating a Sideways Consolidation Overview: This pair has been trading in a sideways range between 0.9501 and 0.8260 since 2017, establishing a considerable consolidation area. The monthly chart reflects a vast consolidation region, making it one of the most consolidated pairs in forex, lacking a clear direction. On the weekly chart, after forming a valid low, the pair initiates an upward move, seemingly with a short post-breakout buildup. 😇 7 Dimension Analysis Time Frame: Daily 1️⃣ Swing Structure: Bullish 🟢 Structure Behavior: Break of Structure (BoS) 🟢 Swing Move: Corrective, nearing a valid Point of Interest (POI). 🟢 Inducement: Completed, forming a valid high, with prices approaching a potential buy area. Anticipating the 1st pullback, which might be deep at extreme levels. Internal structure appears bearish with an unmitigated overbought (OB) scenario. 🟢 Support/Resistance Areas: Support, Demand, Accumulation areas are vital, marked with trendlines. Identifying potential buy entries in these zones. 2️⃣ Pattern 🟢 CHART PATTERNS Reversal Double bottom formation indicative of a potential reversal. 🟢 CANDLE PATTERNS Key Observations: The last candle, a significant bear candle, indicates profit booking by climax players. Momentum candles reflect strict bearish momentum, but bear in mind that substantial bear candles near support might not have significant implications. Climax players' activity in the area warrants careful observation. 3️⃣ Volume: High volumes at both the beginning and end, signaling bullish volume. There's a high chance of price reversal or support emergence from these levels. 4️⃣ Momentum RSI: 🟢 Momentum State: In a sideways zone. 🟢 Divergence: Two consecutive bearish divergences indicate active bears, although a bullish divergence is currently forming. 5️⃣ Volatility Bollinger Bands: 🟢 Bands are below the middle band, suggesting a bearish trend. However, a punch from the upside signals strong bearish pressure. 6️⃣ Strength - ROC Values: EUR is stronger than the bears. ✔️ Entry Time Frame: Daily ✅ Entry TF Structure: Bullish ☑️ Current Move: Corrective ✔ Support Base: Previous support area ☑️ Candles Behavior: Climax player activity, record session count with an extreme bearish candle unable to break support. ☑️ Trend Line Breakout: Not yet observed. ☑️ Final Comments: Buy at the support. 💡 Decision: Buy once the price reaches the support area. 🚀 Entry: 0.8670 ✋ Stop Loss: 0.8647 🎯 Take Profit: 0.8831 2nd Exit if Internal Structure Changes, 3rd Trendline Breakout, FOMO. 😊 Risk to Reward Ratio: 1:7 🕛 Expected Duration: 30 days SUMMARY: The analysis focuses on a bullish scenario, given the corrective move and potential support areas. However, cautious optimism is advised, considering bearish momentum and climactic activity. The strategy revolves around waiting for the price to reach a key support level for a buy entry, aligning with the broader bullish outlook.
Long
by Optimum369
EURGBP H4 | Falling to supportEUR/GBP is falling towards an overlap support and could potentially bounce off this level to rise higher towards our take profit target. Entry: 0.86547 Why we like it: There is an overlap support level Stop Loss: 0.85980 Why we like it: There is a pullback support that aligns with the 61.8% Fibonacci retracement level Take Profit: 0.87199 Why we like it: There is a pullback resistance that aligns with the 78.6% Fibonacci retracement level Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
EURGBP H4 | Breaking out of support levelPrice is in a downtrend, reaching our sell entry. It could breakout of the sell entry and reverse to the take profit level. Sell entry is at 0.86587 which is an overlap support level. Stop loss is at 0.86837 which is a level that sits above an overlap resistance and the 61.8% Fibonacci retracement level. Take profit is at 0.86017 which is a pullback support level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
Market Analysis: EUR/GBP RalliesEUR/GBP is gaining pace and might extend its rally above the 0.8700 zone. Important Takeaways for EUR/GBP Analysis Today · EUR/GBP started a fresh increase above the 0.8620 resistance zone. · There is a major bullish trend line forming with support near 0.8640 on the hourly chart at FXOpen. EUR/GBP Technical Analysis On the hourly chart of EUR/GBP at FXOpen, the pair started a fresh increase from the 0.8580 zone. The Euro traded above the 0.8620 level to move into a positive zone against the British Pound. The EUR/GBP chart suggests that the pair settled above the 50-hour simple moving average and 0.8640. It is now consolidating gains below the 0.8700 resistance zone. The RSI is moving lower and suggesting a minor downside correction. If there is no move above 0.8690, the pair could correct lower. Immediate support sits at 0.8665 or the 23.6% Fib retracement level of the upward move from the 0.8598 swing low to the 0.8685 high. The next major support is near a bullish trend line at 0.8640. It is close to the 50% Fib retracement level of the upward move from the 0.8598 swing low to the 0.8685 high. A downside break below the 0.8640 support might call for more downsides. In the stated case, the pair could drop toward the 0.8600 support level. Immediate resistance is near 0.8690. The next major resistance for the bulls is near the 0.8700 handle. A close above the 0.8700 level might accelerate gains. In the stated case, the bulls may perhaps aim for a test of 0.8740. Any more gains might send the pair toward the 0.8800 level in the coming sessions. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
1
Unlocking Potential: EURGBP's Consolidation and Bullish MomentumIn the current market scenario, the EURGBP pair appears to be undergoing a phase of consolidation following a preceding downtrend. The price action is forming a discernible flat bottom, a pattern indicative of accumulation, further complemented by a bullish divergence observed on the Relative Strength Index (RSI). Should the price breach the defined entry point, the imminent breakout could propel the currency pair upwards. Notably, the overall market sentiment stands at an overwhelmingly bullish 96%, adding a reinforcing element to the potential upward trajectory.
Long
by miansarimhameed
1
EURGBP The Target Is DOWN! SELL! My dear friends, Please, find my technical outlook for EURGBP below: The instrument tests an important psychological level 0.8653 Bias - Bearish Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 0.8606 Recommended Stop Loss - 0.8677 About Used Indicators: Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
1
EURGBP - Price can bounce up from support level to $0.8670Hi guys, this is my overview for EURGBP, feel free to check it and write your feedback in comments👊 Some time ago price started to move up in rising channel, where it first fell to support line and then made upward impulse. GBP broke resistance level, which coincided with resistance area, and soon broke resistance line, but later fell back. A few moments ago price reapeted a fake breakout from this line again, after which continued to rise in channel. Later, EURGBP bounced of resistance line and made strong downward impulse, thereby breaking $0.8690 and $0.8600 levels. Recently it started to grow in one more rising channel, where price continues to trades to this day. I think British Pound can correct to support level and then bounce to $0.8670 resistance line of channel. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
3
It can be a bullish scenario too? If this pattern is flatHello! I am a big fan of the Elliott wave principle, which I find very interesting and useful for market analysis. I have developed my analytical approach by combining this principle with my personal experience and considering various scenarios that could occur in the market. While I would like to share my analysis with you, please note that I am not providing a buy or sell signal. My primary intention is to share my unbiased analysis so that you can utilize it as a guide to make an informed decision. To build your confidence in my analysis, I always share my previous analysis from the same market so that you can compare and see the progress. All the details of my analysis are clearly labeled, which should make it easy for you to understand. I hope that my analysis is useful to you in your business journey, and I wish you all the best. I am looking forward to hearing from you. Lastly, I would like to mention that like-mindedness and support, comments, and likes are the most important pillars of progress, just like support points in the financial markets. They give me the energy to continue and share more ideas with you. Sincerely
Long
by mehdi47abbasi79
Big Leading Diagonal (Bear Idea)Hello! I am a big fan of the Elliott wave principle, which I find very interesting and useful for market analysis. I have developed my analytical approach by combining this principle with my personal experience and considering various scenarios that could occur in the market. While I would like to share my analysis with you, please note that I am not providing a buy or sell signal. My primary intention is to share my unbiased analysis so that you can utilize it as a guide to make an informed decision. To build your confidence in my analysis, I always share my previous analysis from the same market so that you can compare and see the progress. All the details of my analysis are clearly labeled, which should make it easy for you to understand. I hope that my analysis is useful to you in your business journey, and I wish you all the best. I am looking forward to hearing from you. Lastly, I would like to mention that like-mindedness and support, comments, and likes are the most important pillars of progress, just like support points in the financial markets. They give me the energy to continue and share more ideas with you. Sincerely
Short
by mehdi47abbasi79
EURGBP H4 | Potential bullish breakoutPrice is rising toward our buy entry at 0.86362 which is an overlap resistance. Our take profit will be at 0.86980, an overlap support level. The stop loss will be placed at 0.85792, above a pullback support level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
EURGBP Will Go Higher! Long! Please, check our technical outlook for EURGBP. Time Frame: 8h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 0.860. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 0.865 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
EURGBP Set To Fall! SELL! My dear subscribers, EURGBP looks like it will make a good move, and here are the details: The market is trading on 0.8608 pivot level. Bias - Bearish My Stop Loss - 0.8626 Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 0.8575 About Used Indicators: The average true range ATR plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
EURGBP: Testing the 1D MA100 inside diverging Channels.EURGBP hit today the 1D MA100 but so far has failed to cross over it. This is keeping the 1D technical outlook neutral (RSI = 45.430, MACD = -0.002, ADX = 43.111) which is usual after a rebound at the bottom of a Channel. On this particular occasion, it is a Channel Up, rebounding after the 1D RSI turned oversold. However since July 20th, the 1D MA100 got tested four times as Resistance and it rejected the price three. Only then it closed a 1D candle over it, did the trend manage to continue rising past it. Consequently, if it closes a candle over the 1D MA50, we will go long and target the R1 level (TP = 0.87650). If rejected, we can see a Channel Down emerging much like last May-July. In that case, we will short and target the S2 level (TP = 0.85000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
EURGBP Potential downsidesHey Traders, In today's trading session, our attention is on EURGBP, as we seek a selling opportunity around the 0.86500 zone. Having previously traded in an uptrend, EURGBP has recently broken out from this pattern and is currently in a correction phase. The correction brings the currency pair towards the retrace area at the 0.86500 support and resistance region, a crucial zone with historical significance. The shift from an uptrend to the ongoing correction introduces a new dynamic to EURGBP's market behavior. The 0.86500 level emerges as a pivotal point, representing both support and resistance, and its impending influence on the currency pair is closely monitored. Traders and investors are alert to potential implications for future price movements as EURGBP navigates through this critical juncture, shaping the narrative for a potential selling opportunity. Trade safe, Joe.
Short
by JoeChampion
EURGBP price action remains mixed.EURGBP - 24h expiry We are trading at overbought extremes. Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. This is negative for sentiment and the downtrend has potential to return. Bespoke resistance is located at 0.8630. Preferred trade is to sell into rallies. We look to Sell at 0.8630 (stop at 0.8658) Our profit targets will be 0.8560 and 0.8550 Resistance: 0.8630 / 0.8660 / 0.8700 Support: 0.8595 / 0.8550 / 0.8490Risk 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 H1 | Bearish reversalEURGBP is reversing from our sell entry and is reaching our take profit level. Sell entry is at 0.86310 which is a pullback resistance. Stop loss is at 0.86490 which is a swing-high resistance level. Take profit is at 0.86134 which is an overlap support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM