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Eurgbptrading

EURGBP: Shifting to long term bearish.EURGBP is heavily bearish on its 1D technical outlook (RSI = 36.165, MACD = 0.000, ADX = 36.508), and most likely will close the day under its 1D MA50. At the moment it is crossing below the 2025 Channel Up and if it closes under it, we will have a validated trend shift to bearish long term. It will be similar to the August 2024 decline that made a new Low after a 1D MA50 rejection. We first aim for the S1 level (TP1 = 0.83500) and as long as it remains under the 1D MA50, resell on the bounce to the S1 level (TP2 = 0.82500). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
EURGBP: Rectangle Top rejection. Sell opportunity.EURGBP is neutral on its 1D technical outlook (RSI = 52.272, MACD = 0.002, ADX = 25.202), going from an almost overbought RSI to neutral as it got rejected on the R1 Zone. That is the top of the 6 month Rectangle pattern, where the last rejection pulled the price all the way down to the S1 Zone. This time the presence of both the LH and HL trendlines makes us consider a slightly tighter trading range. The trade is short, TP = 0.82600. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
EURBGP: Sell signal on the Channel Down top.EURGBP is almost overbought on its 1D technical outlook (RSI = 68.286, MACD = 0.003, ADX = 49.271) as it crossed over the 1D MA200 and almost touched the top of the short term Channel Down. This is a solid first entry for a short, the second being under the 1W MA200 near the dashed trendline of the long term Channel Down. Target the 0.786 Fibonacci retracement level (TP = 0.82800). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
EURGBP: Significant upside potential on the short term.EURGBP is neutral on its 1D techhnical outlook (RSI = 48.804, MACD = -0.002, ADX = 22.675) as it consolidates having failed to cross over the 1D MA50. Given the 1 year Channel Down pattern, the 1D MA50 shouldn't stand as a Resistance for long, since the price is having this rebound after a clear LL on its bottom. We expect the 1D MA200 to be tested (TP = 0.8500) with the upside potentially extending as high as +2.80%. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
EURGBP: Short term rebound initiatedEURGBP is neutral on its 1D technical outlook (RSI = 53.577, MACD = 0.001, ADX = 12.005) as it is ranges between the 1D MA50 (Support) and 1D MA200 (Resistance). Having made a Double Bottom on S1 on March 8th, with that level holding since August 23rd 2023, the current rebound is expected to extend to the LH trendline, essentially the top of the Descending Triangle. The Bullish Wave before this one, crossed the 0.5 Fibonacci level and then reversed, which gives us a TP = 0.86400. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
EURGBP: Rejection on the 1D MA50. Sell signal.EURGBP is technically bearish on the 1D timeframe (RSI = 37.174, MACD = 0.000, ADX = 32.150) as it is extending the selling since the December 28th 2023 High near the top of the 1 year Channel Down. For the last 3 days it has failed to cross over the 1D MA50, even though it got too close, and a rejection today can start a bearish wave of minimum -1.78%, much like July 11th 2023. Consequently we are short with TP = 0.84250, even though the long-term extension can even be at -4.04% or even the 2.0 Fibonacci level. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
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: Sell following the 1D MA50 rejection.EURGBP got rejected last week on the 1D MA50 turning the 1D timeframe bearish technically (RSI = 42.823, MACD = -0.002, ADX = 20.983). Given the fact that the 2023 pattern is a Bearish Megaphone, we expect a continuation of this downtrend to the LL trendline. We are selling with an initial target on the 0.786 Fibonacci level (TP = 0.84450). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
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