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GBPEUR trade ideas

EUR/GBP Technical Analysis and Trading Plan for Next Week Wave Structures and Harmonic Patterns: The current wave count suggests that price action is completing a higher-degree corrective pattern. The presence of a potential Wave C up to a swing failure pattern (SFP) hints at exhaustion of buying pressure. The 0.618 and 0.786 Fibonacci retracement levels align with resistance zones, providing targets for potential reversals. Key Levels and Fibonacci Confluence: Resistance Zone: The 0.84250-0.84473 region acts as a key reversal area marked by the 0.786 Fibonacci retracement. Support Zone: The 0.83247 level aligns with the 0.618 retracement, serving as the invalidation point for bullish setups. Order Block Areas: The marked shaded regions reflect historical buying and selling activity that can trigger significant price reactions. Volume Profile: High-volume nodes indicate areas of significant interest and potential consolidation. Price reactions around these levels may signal breakouts or reversals. Swing Failure Patterns (SFPs): The chart features a swing failure pattern near 0.84473, suggesting that an attempt to break this high might lead to a reversal if rejected. This level should be monitored closely. Step-by-Step Trading Plan: Short Setup: Entry: Consider short positions near 0.84250-0.84473, where confluence with Fibonacci and historical resistance exists. Stop Loss: Place stops above 0.84473 to protect against a breakout. Target Levels: Initial target at 0.83850 (0.382 retracement). Secondary target at 0.83247 (0.618 support). Long Setup: Entry: If price action consolidates and holds above 0.83850 without triggering the short scenario, a potential long opportunity may arise. Stop Loss: Below 0.83247 (invalidation of the bullish scenario). Target Levels: Look for a move towards 0.84473 and beyond, contingent on a break of the SFP. Validation and Invalidation Points: Bearish Invalidation: A sustained move above 0.84473 confirms the invalidation of a short bias. Bullish Invalidation: If the price closes below 0.83247 and sustains this level, the bullish setup is invalidated. Key Takeaways: Volume and Order Flow: Watch for shifts in volume and the direction of order flow as they indicate potential bias changes. Wave Completion: Ensure that Wave 5 aligns with structural resistance and volume divergence for high-conviction trade setups. Risk Management: Always adhere to strict risk parameters, ensuring no more than 1-2% risk per trade.
Short
by spaceangel
EURGBP: A Trade You Don't Want To MissEURGBP: A Trade You Don't Want To Miss This is an analysis I posted before and nothing has changed so far. P EURGBP is testing an old weekly support zone that proved to be strong several times. Usually, we refer to normal support zones to observe the price reaction, but this time EURGBP is near a weekly area. We have to be cautious at the moment because EURGBP may go down a bit more, but overall should rise from the weekly support zone. The price tested this area in 2016, 2017, 2020 and 2022. After the start of the uptrend, EURGBP rose by nearly +400 to +900 pips during the uptrend. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Long
by KlejdiCuni
10
EUR/GBPOn Monthly, past 52 Weeks Lowest price line was touched and created Engulfing Bearish Candle. On Weekly, price is below 200, 50 and 20 EMA but it just broke through 0.83400 Resistant. On Daily, price is hitting lower trendline while price is below 200 & 50 EMA. On 1H chart, you can see that price is above 200, 50 and 20 EMA and it's coming down to confirm 0.83400 Resistant that now it's Support. In lolwer time frames seems price is bouncing back up unlike Monthly candle. this could be a reversal at most or a temporary pull back. In short tem, i would predict Bullish move.
Long
by Ha-Lion
EURGBP to find sellers at market price?EURGBP - Intraday The primary trend remains bearish. Our short term bias remains negative. Preferred trade is to sell into rallies. 20 1day EMA is at 0.8338. Early optimism is likely to lead to gains although extended attempts higher are expected to fail. We look to Sell at 0.8338 (stop at 0.8362) Our profit targets will be 0.8278 and 0.8268 Resistance: 0.8320 / 0.8345 / 0.8370 Support: 0.8307 / 0.8290 / 0.8260 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 Collapse! SELL! My dear friends, Please, find my technical outlook for EURGBP below: The price is coiling around a solid key level - 0.8338 Bias - Bearish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Goal - 0.8301 Safe Stop Loss - 0.8361 About Used Indicators: The pivot point itself is simply the average of the high, low and closing prices from the previous trading day. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
EURGBP | Long Opportunity with Strong Weekly SupportI'm watching EURGBP on the weekly timeframe as it approaches a strong support zone between 0.8200 and 0.8275 . The pair is currently in a corrective trend, signaling potential upside movement once the correction completes. The support zone has historically held well, indicating a potential rebound. My stop-loss is placed at a weekly close below 0.8140 to protect against further downside. The first profit target is set at 0.8700, with the second target left open for potential extended gains depending on market conditions.
Long
by SRA_Trades
4
A Weaker pound? 1. Baseline Scenario - Macro-Fundamental Bias Dovish. The Bank of England has cut rates by 25bps to 4.75%, with expectations of further cuts due to slowing inflation. Markets are pricing in two 25bps cuts by the end of 2025 with a 92% chance of a third 25bps cut, dispite the Labour Government's fiscal policy expected to be reflationary. There is also a 15% chance of a 25bps rate cut in December. - Short Term Sentiment Bias : Neutral. The pound is moving flat on an index level, indicating no strong short-term sentiment driving the price. 2. Risk Event Baseline - Event Description : Upcoming UK GDP data releases. - Monthly GDP (m/m) forecast: 0.2% (previous: 0.2%). - Preliminary GDP (q/q) forecast: 0.2% (previous: 0.5%). - Market Expectations : Markets are anticipating a slowdown in economic growth, with the preliminary GDP forecast significantly lower than the previous quarter. 3. Surprise Scenarios: - Negative Surprise: - Plan: If GDP data misses forecasts, reinforce bearish positions on GBP pairs. A weaker-than-expected GDP print could act as a catalyst for further pound selling, aligning with the dovish macro outlook and expectations of additional rate cuts.
Short
by Midas_Macro
1