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Eurgbptradesetup

EUR/GBP 4H Bullish Breakout Trade Setup – Demand Zone to 0.85250📉 Trendline Break 🔵 A key trendline was broken 🔽 (bearish ➡️ bullish shift). ✂️ This break signals potential upside movement as sellers lose control. 🟦 Demand Zone (BUY Area) 📍 Zone: 0.83967 – 0.84249 🛒 Buyers expected here! 🟢 Price may pull back here before heading up. 🟡 This is marked as the ENTRY POINT zone. 🔴 Stop Loss Zone 📍 Level: 0.83977 ❌ Place stop loss just below the demand zone. 🛡️ Protects against downside breakout risk. 🟧 Resistance Zone 📍 Around: 0.84500 – 0.84600 ⚠️ Price may face resistance temporarily before continuing the upward move. 📏 Testing this area confirms strength. 🟩 Target Zone 🎯 Target Point: 0.85250 💸 If the trade plays out, this is where profit is expected. 🚀 Bullish target above the resistance zone. ✅ Trade Setup Summary 🧩 Details 🟦 Entry 0.84240 (inside demand zone) 🔴 Stop Loss 0.83977 (below demand zone) 🟩 Target 0.85250 (above resistance) 📈 R/R Ratio ~1:4 (great risk/reward!) 🔍 Final Outlook: 🟠 Watch for: Pullback to entry zone 🟢 Then look for: Bullish candlestick confirmation 🚀 Goal: Ride it up to 0.85250 with strong momentum
Long
by Jameshead007
38
EUR/GBP Retreat Amid Mixed PMI ForecastsAnalyzing the EUR/GBP 1-hour chart provided: Pattern Recognition: - The chart shows a recent decline from the 'Premium' level, indicating a resistance zone. - The price is currently approaching the 'Equilibrium' level, which may act as a short-term support. - A series of lower highs from the 'Weak high' suggests a potential downtrend in the making. Trading Strategy: - Confidence Level: Moderate - Recommended Position: Short, with caution for a potential bounce or reversal at the Equilibrium level. - Entry Point: The current level (approximately 0.8746) could serve as an entry point if the price demonstrates continued weakness, breaking below the Equilibrium level. - Exit Point: Target the 'Discount' zone for potential exit around 0.8700. If the price breaks below this level, it could suggest further bearish momentum, potentially heading towards the 'Strong Low' around 0.8690. Key Observations: - The price is in a pullback phase within a larger range-bound market structure. The 'BOS' (Break of Structure) markers indicate significant levels where price structure has been broken, and these could serve as future areas of interest for support/resistance flips. - The presence of 'ChOCH' (Change of Character) markers suggest volatility and potential changes in market sentiment at these levels. Conclusion: Look to short the EUR/GBP with a conservative target, while monitoring price action at key levels such as the Equilibrium and Discount zones. Beware of potential reversals as the price is near a historically significant level.
Short
by RichDadph-FX
EUR/GBP Primed for Movement Amidst Key Economic IndicatorsThe sentiment from central banks, coupled with softer UK inflation data, suggests a bullish move for EUR/GBP. The technical analysis aligns with this perspective, indicating a potential move towards the 0.8700 handle, especially with the currency pair managing to stay above the 0.8650 level. TRADE IDEA DETAILS CURRENCY PAIR: EUR/GBP CURRENT TREND: Bullish TRADE SIGNAL: Buy 👉ENTRY PRICE: 0.8655 ✅TAKE PROFIT: 0.8700 ❌STOP LOSS: 0.8630 TRADE PLAN: Enter a buy position around the current level of 0.8655. Given the potential upside, a take profit can be set near the technical resistance of 0.8700. To protect the downside, considering the inherent market volatility and any unexpected shifts in sentiment or data, a stop loss at 0.8630 is prudent. FINAL THOUGHTS: This trading idea is predicated on both fundamental factors (central bank sentiments and economic data) and technical indicators. Traders should monitor the position closely, especially around the time of the BoE's rate decision and subsequent economic releases, as these could serve as catalysts for significant price movement.
Long
by RichDadph-FX
EURGBP: Bullish Idea & Trade PlanEURGBP is at the critical resistance area around 0.9075 The first impulsive move up is completed followed by the correction. At present, it's creating the second leg up. The Fibo Extn. 100% coincides with the rising channel top at 0.9250 which is the next target once it breaks above 0.9075 and successfully re-tests it as a support. The two possible variations of this bullish idea could be: 1. It breaks above the immediate resistance around 0.9075 and completes the second leg up. 2. It ranges between the support at 0.8860 & resistance at 0.9075 for a while and then pushes upward to the target. Invalidation of this bullish setup would be the break below 0.8860 GOOD LUCK FOR YOUR TRADES !!! PLEASE SHOW YOUR SUPPORT IF YOU LIKED THE IDEA
Long
by moneytize
2
Eurgbp D1 Trade Setup wait for breakout suggests more upsideThe EURGBP posted a long white candle and the daily candle suggests more upside. Intraday Update: The EURGBP just hit the 38% retracement and near the 161% extension. As long as .8972 holds, this could be a good reversal level for the pair to move back to .8900. End of Week Analysis: The EURGBP has rallied back to a confluence of fib levels. The 38% retrace, the 161% extension and is testing the underside of the trend line. As long as we stay below .9000 on a closing bases, we probably will move lower. Brexit priced into GBP but not the Euro? UK referendum & elections brought weakness to the Pound, however, its ~15% depreciation should put the brakes on easing and some stimulus may be removed as inflation & general economic data improve. Join Our Telegram Group :https://goo.gl/Gs5NtH
Long
by FxSingalsteam