EURGBP

Leebax

Active Trader
Aug 16, 2019
41
12
39
35
EURGBP. We got the drop through the long uptrend early last week, and to me it looks like a classical Bearish flag is forming on the Daily chart. The Uk now has a no deal brexit off the table and a new general election to go through. With all this happening no big movements with GBP re confirming were already priced in, alot of technicals working well on those pairs now. I would expect this range to be traded up then back down before we break below. Maybe a new government might give it alot of strength come Dec. good luck out there and always remember Risk management, look for good R:R.
upload_2019-10-30_8-40-47.png
 

Leebax

Active Trader
Aug 16, 2019
41
12
39
35
Little update on this pair. price has consolidated since my last post. but i believe once the moving averages catch up to price we could see the next push downupload_2019-11-6_9-46-32.png
 

SteveF

Active Trader
Oct 17, 2019
89
7
39
62
EURGBP,H4.jpg
Leebax - This chart sure confirmed what you said about the pair not moving!
 

Leebax

Active Trader
Aug 16, 2019
41
12
39
35
78166499_10162838518010314_4300533526370975744_o.jpg Looking back at EURGBP today. Since we looked at price last week and the week before it has slowly drifted downwards in this descending bear channel. Price has dropped a couple of hundred pips since we started to look at it. I think it more than likely we will see a touch down on the weekly support level. This is when i think it will get interesting. If price rejects then i can see a bounce back up to the above weekly supply area. But if it breaks below then i can see a huge number of pips available short on this pair. Watch for the break and retest on this one

 

SteveF

Active Trader
Oct 17, 2019
89
7
39
62
Good analysis! This one is worth watching. I noticed today a small breakout up of a 4 Hour chart wedge. I'm looking for a failure to go higher and sell back into the downtrend until it reaches that support you mention....2019-11-19 22_28_43-EURGBP,H4.jpg
 

K_Robdog

Trader
Nov 2, 2019
23
2
9
38
Cheers guys, will keep my eye on this one! So we are still bearish and expecting a bounce back down?
 

SteveF

Active Trader
Oct 17, 2019
89
7
39
62
2019-11-21 16_22_21-EURGBP,H4.png

Breakout support held today as the GBP was strong earlier but got weaker as day progressed. Both GBP and EUR weakened today.
 

Leebax

Active Trader
Aug 16, 2019
41
12
39
35
EURGBP seems to keep managing to fall although i expect some strong support here soon, the purple zone is a weekly demand zone so wether it pushes through first time or bounces back up around here to collect some more supply for another push through only time will tell. With the Deustche bank being in a bad spot you would think the EUR should be in a bad palce. One to watch1574727001636.png
 

DT77

Active Trader
Feb 24, 2019
233
25
34
51
A lot depends on the UK General Election turmoil with this pair. Way too unpredictable I'd say.....
 

Leebax

Active Trader
Aug 16, 2019
41
12
39
35
If you watched my analysis from a few weeks ago on EURGBP ive been saying short for a while now. Well price has dropped hundreds of pips from when i first gave notice. It has dropped down right onto my purple weekly support level. GBP seems to make goo gains from most brexit news as already noticed. EUR isnt in the best of shape especially with Deutsche Bank going bust. I can only see down from here. Wait for a break of the support level and sell on the retest. Or you can wait for a possible pullback to the stronger averages to catch up. Look for signs of resistance and you should be good to go. Risk management as always as this pair could get volatile in the weeks to come


77072434_10162882360170314_3351817611947016192_o.jpg
 
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sebking1986

Trader
Nov 28, 2019
4
0
6
33
Great thread this, cheers Lee and keep up the good work. I'll be keeping any eye on this pair for confirmation!
 

georgequayle

Trader
Feb 16, 2019
86
2
19
21
EURGBP. We got the drop through the long uptrend early last week, and to me it looks like a classical Bearish flag is forming on the Daily chart. The Uk now has a no deal brexit off the table and a new general election to go through. With all this happening no big movements with GBP re confirming were already priced in, alot of technicals working well on those pairs now. I would expect this range to be traded up then back down before we break below. Maybe a new government might give it alot of strength come Dec. good luck out there and always remember Risk management, look for good R:R.
View attachment 14616
the best pair
 
Dec 3, 2019
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27
My analysis aligns exactly with yours Lee, especially with Deutsche Bank as you say!
Do you have any resources you'd recommend for learning more about risk management in these conditions?