EURGBP

pezza55

Trader
Dec 2, 2019
34
9
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Looking back at EURGBP today. After all the fiasco of the general election we have settled in the range.
But we have the brexit deadline end of january so i think that is when we will see the next course of big movement for this pair.

Looks like were currently getting squeezed into a trignal, so i would wait for a breakout in either direction. Waiting for a retest would be ideal conditions, but sometimes we dont get them, so being alert of whats going on fundamentally is needed to catch the move.

Have a good weekend everyone, im on holiday next week so wont be around to provide analysis as i usually do. Remember patience pays :)View attachment 15206
GBP taking a battering think we will see a small rise nothing big coming for the mean time
 

Petez_FX

Trader
Aug 13, 2019
98
28
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I don't really trade this pair, but the analysis is spot on. I try and stick to GBPxxx pairs instead!
 

walpants

Trader
Feb 10, 2019
72
10
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im still staying clear of gbp i dont have enough experience to deal with the volatility of it at the moment
 

momo3HC

Active Trader
Feb 16, 2019
352
66
44
35
im still staying clear of gbp i dont have enough experience to deal with the volatility of it at the moment
The volatility of gbp is not quite high than what can happen at the end of transit period between UK and EU final separation.
 

Leebax

Master Trader
Aug 16, 2019
123
57
59
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Well well well. A look back at [URL deleted] EURGBP and i have been saying for a long time this is going down. Initially from the 0.9 area and also since [URL deleted] xmas too. Weve been in this small [URL deleted] wedge and its ended with a break out below the [URL deleted] support area .
This gives us a simple rule set for a nice entry for a short. That's if you havent already been short since we last looked at this pair. Wait for a pullback in price to retest the broken support and sell that sucker. Nice and easy for us all. Enjoy the rest of your weekend :) Screenshot_2.png
 
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Leebax

Master Trader
Aug 16, 2019
123
57
59
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Back to EURGBP as i know a few of you were looking at this pair. We were sitting down at the 0.83 price point. i dont think i could of made it easier for you to get in on this sell position. Price came right up to the magic blue circle and rejected nicely off the resistance zone . Creating a morning start candle on the daily, currently were in a Doji on the daily but obviously it hasnt finished completing yet, but it looks like its possible it could turn for the sell. This should of been your trade idea. a nice run down to the 1.6 extension fib for a 4.9 R:R and 300 pip possible move. Hope you caught that one, if so should be currently 40+ pips up. lock it to break even and let it run. Screenshot_6.png
 

Leebax

Master Trader
Aug 16, 2019
123
57
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If you follow these setups and analysis then you should be in this trade now. I marked out the good entry zones in the magic blue circle. Price has came up and touched it for the second time, rejected the previous support which is now confirmed resistance, giving us an entry point. This gave us a nice 1 - 4.9 R:R , the next zone to be careful of is the support level below from the previous support. If it breaks through that then TP should be successful. GLIYFScreenshot_2.png
 

Leebax

Master Trader
Aug 16, 2019
123
57
59
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Alot of people have been asking about EURGBP as it went miles past the blue circle which was my prediction. This to me looks like the current situation. I would say we are literally right on the edge of switching between bearish and bullish . Price has made equal lows to the bottom and equal highs. For it to turn bullish for me we would need to see a higher high form and daily candle close in the yellow circle. That would signify the switch in bias. Until then im still looking for price exhaustion in these areas. It also looks to be in this big 300 pip range, we could just bounce top to bottom until some certainty appears. A move either way in the yellow circles will signify the trend direction, for a further move going forward. stay safe out there the markets are wild at the momentScreenshot_1.png