EUR/GBP (part 21)

[Malangi140387]

The euro/pound pair is trading moderately higher in the early session, continuing the uptrend from yesterday. The British pound is losing ground against the euro amid rising uncertainty around the trade deal between the UK and the EU. It is clear now that trade talks have come to a stalemate due to the UK stance on the deal as it does not agree with some of the terms.

Attachment 271978

In the course of the session, I expect the pair to go through a downward correction. However, the upward trajectory should prevail. The pair is gradually moving into the bull market. A possible pivot point is set at 0.8935, and I’m planning to open buy positions above this level with the targets at 0.9035 and 0.9085. Under a different scenario, the euro/pound pair will slip below the level of 0.8935 and will settle there. In this case, the price may then head for 0.8915 and 0.8885.

hello how are you dear? as you share your analysis i am strongly agree with you this will move according to your perception and gives you good profit but there is one condition that you should hold your trade for long time. i am hope full that as market is moving in correction pattern it will move accordingly. thanks for good sharing.

[TraderGeorge]

Hello, dear forumers!



The bulls failed to break through the level of resistance and gave up their positions to the bears. So, the price moved to the downside but stayed in the sideways channel. At the moment, the price is still holding above the level of support.

Buy positions remain relevant on the pair as the bearish momentum is not so strong. So, the uptrend is unlikely to reverse in the near term. The price is expected to continue its upward trajectory. Therefore long positions are the best option.

Let’s have a closer look at the EUR/GBP chart. For the price to rise further, it needs to break through the resistance at 0.9129 and settle above it. However, the bears might interfere and push the price back to the lower boundary of the channel at 0.9066. If the pair breaks below this mark, then the uptrend will be stopped, and the price will head for the downward targets. Otherwise, the price may stay in the flat channel for a while.

It is safer to place positions after the price breaks out of the upper boundary of the channel. On the other hand, opening positions from the pullback is more profitable.

[101Goldhunter]

I don't even know what to say about the chart of the given currency asset. Taking into account the market volumes, the domination of buyers is clear. The approximate ratio of buyers to sellers 90% to 10%, respectively.

In general, long positions are definitely a priority. In regards to the possible entry points, these are the levels of 0.9169 and 0.9076. Thus, the euro/pound pair is above the upper border of the medium-term channel. An upward channel has been formed.

The price is likely to go down to the yellow trend line and start rising again. There is a good chance that the price will be able to get to the top of the global trend.

[Macliodor]

The EURGBP currency pair is showing mixed dynamics and is trading at 0.9256. Technical indicators on the hourly chart indicate uncertainty: the SlopeDirectionLine indicator line with parameters (10.3) is colored light blue and with parameters (20.1) - similarly colored light blue, GannsSignalStopLoss_V4 is colored green, the laguerre line (gamma 0.66, CountBars 950) is falling above the level of 0.85, the lines of the stoneaxe indicator (8, 24, 89) are declining, including the black line (24) moving in waves near the level 0.00, and the bars of the WaddahAttarExplosion indicator are colored red and are above the orange line indicating the strength of sellers. I would also like to note that the quotes are above the monthly opening price, above the weekly one, and the opening price of the daily candle is 0.9224. Resistance levels: 0.9275, 0.9300. Support levels: 0.9250, 0.9200. I am considering short positions below 0.9250 with a target of 0.9200. An alternative scenario is relevant above the resistance level of 0.9300.

[LincolnFxinvestor]

On Monday morning, the euro/pound pair is trading in the narrow range near the levels from the previous close form. The pair is moving slightly lower within the current technical correction. The British pound remains under pressure and depreciated across the board during last session. There has been a sell-off wave on the pound due to the rising uncertainty around the EU and UK relations following Brexit.

In the first half of the day, the pair is likely to go through a moderate correction. However, I think the uptrend will continue soon.

At the moment, the pair is trading in the bull market. A possible pivot point is seen at 0.9175, and I’m going to buy above this level with the targets at 0.9265 and 0.9325.

Under a different scenario, the euro/pound pair will continue to decline below the level of 0.9175. After settling there, the pair may then test the levels of 0.9145 and 0.9125.