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EUR/GBP: Key Support at 0.8230 Could Trigger UptrendThe EUR/GBP pair has been falling steadily and recently reached 0.8230, its lowest point in over 3 years. The last time the price touched this level was in March 2022, which marked the start of a strong upward trend. This makes 0.8230 an important support level where the price could bounce back. We believe this could be the beginning of a uptrend, and we're aiming for two key targets: 1. First Target (TP1) : 0.8445 This is the first resistance level where the price might pause. 2. Second Target (TP2) : 0.8610 If the first resistance is broken, this is the next level we expect the price to reach. Watch the price closely around 0.8230. If it starts moving up, that could confirm the trend change. Consider setting a stop loss below 0.8230 to manage risk while targeting the levels mentioned above.
Long
by FXTradingAnalysis
2
Bearish drop?EUR/GBP is reacting off the pivot and could drop to the 1st support. Pivot: 0.82747 1st Support: 0.82239 1st Resistance: 0.83031 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
1
Elliott Wave View: EURGBP Rally Expected to FailShort Term Elliott Wave view of EURGBP suggests decline from 8.8.2024 high ended as wave (1) at 0.8219 as an impulse. Down from 8.8.2024 high, wave 1 ended at 0.8295 and rally in wave 2 ended at 0.844. Wave 3 lower ended at 0.826 and rally in wave 4 ended at 0.8375. Down from there, wave ((i)) of 5 ended at 0.8268 and wave ((ii)) of 5 ended at 0.8364. Wave ((iii)) of 5 lower ended at 0.8225 and wave ((iv)) of 5 ended at 0.8327. Final wave ((v)) of 5 ended at 0.8222. This completed wave (1) in higher degree. Wave (2) corrective rally is in progress with internal subdivision as a zigzag Elliott Wave structure. Up from wave (1), wave A ended at 0.8313 and pullback in wave B ended at 0.8268. Wave C higher is in progress as an impulse structure. Up from wave B, wave ((i)) ended at 0.8314 and pullback in wave ((ii)) ended at 0.8272. Near term, as far as pivot at 0.8219 low stays intact, expect pullback to find support in 3, 7, 11 swing for further upside. Target higher for wave (2) is 100% – 161.8% Fibonacci extension of wave A. This area comes at 0.836 – 0.8419 where sellers can appear for 3 waves pullback at least.
by Elliottwave-Forecast
SELL OPPORTUNITYInstrument: EUR/GBP Entry Price: 0.83030 GBP Take Profit (TP): 0.82790 GBP Stop Loss (SL): 0.83132 GBP Risk-Reward Ratio: ~1:2 Technical Analysis: Supply Zone (0.83060–0.83120): The price is approaching a key supply zone between 0.83060 and 0.83120. In this zone, there is expected to be significant resistance, and the price is likely to face downward pressure. This sets up a potential opportunity for a short trade as EUR/GBP might reverse from this level. Bearish Momentum: Given the price action in the supply zone, a reversal could take the pair lower towards your Take Profit level of 0.82790. This is a reasonable target, as the price could test lower levels once resistance is met. Fundamental Considerations: Holiday Liquidity-With Christmas and New Year approaching, liquidity is expected to be lower than usual. This can lead to increased volatility or choppy price action. Be aware that the market might not behave in the usual manner during this period, with wider spreads and less predictable movements.
Short
by GODOCM
#EURGBP 1DAYEURGBP (1D Timeframe) Analysis Market Structure: Trendline Breakout: The price has moved above a previously established trendline, indicating potential bullish momentum. Forecast: Buy Opportunity: The breakout suggests a shift in trend direction, favoring buyers. Further upside movement is expected as long as the price sustains above the broken trendline. Key Levels to Watch: Entry Zone: After breakout confirmation or upon retesting the broken trendline as new support. Risk Management: Stop Loss: Placed below the trendline or recent swing low. Take Profit Zones: Focus on upcoming resistance areas and psychological price levels. Market Sentiment: Positive Momentum: A breakout above resistance typically reflects strengthening buying interest and potential continuation of the upward move.
Long
by PIPSFIGHTER
Lingrid | EURGBP sideways MOVEMENT. Potential ShortFX:EURGBP market is oscillating between the support zone at 0.82300 and the resistance zone at 0.83300. Currently, the price has bounced off the support level and is approaching the upper boundary of the consolidation zone. There is a strong chance that the market will rebound at the resistance level, where the upward trendline and the resistance zone around 0.83000. I anticipate that the market will pull back from this zone and potentially retest the middle of the consolidation range before deciding its next direction. My goal is support zone around 0.82700 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
2
DeGRAM | EURGBP rebound from 62% retracement levelEURGBP is in a descending channel above the descending wedge formed by the trend lines. The price is moving from the lower trend line and the lower boundary of the channel. The chart has already consolidated above the upper trend line and is now above the support level coinciding with the 62% retracement level. We expect the rebound to continue. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
Long
by DeGRAM
7
EUR/GBP: Anticipating a Bullish Drift with EASY Trading AIThe EUR/GBP has been drawing attention lately, as signals from our EASY Trading AI indicate a promising buying opportunity. Set your entry at 0.82829, aiming for a take profit at 0.82865333 with an appropriate stop loss at 0.82756333. Why this direction? Well, our strategy, EASY Trading AI, thrives by identifying short to medium-term market patterns that precede meaningful price swings. Through comprehensive real-time analysis, this system anticipates market movements backed by solid historical data. With volatility management and precise pattern recognition at its core, our approach ensures each trade aligns with favorable market conditions. The specific threshold for this signal points towards a likely uptick, supported by technical patterns observed across similar setups in recent history. Remember, these signals are accessible without cost via our service platforms. If automation's your forte, consider integrating EASY Trading Bots to enhance efficacy while minimizing manual intervention. Our bots seamlessly sync with these forecasts, leveraging automation to capitalize on these anticipated shifts. Keep in mind, as much as historical data provides a glimpse into potential moves, markets are inherently unpredictable. Hence, managing risk with discipline is as vital as acting upon insights. Engage with us via our site or Telegram bots to stay in the loop, and leverage these forecasts to potentially boost your trading outcomes. Happy trading!
Long
by ForexRobotEasy
EURGBP What Next? SELL! My dear subscribers, My technical analysis for EURGBP is below: The price is coiling around a solid key level - 0.8295 Bias - Bearish Technical Indicators: Pivot Points Highanticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Goal - 0.8273 About Used Indicators: By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1