EURGBP

[momo3HC]

Another good FX thread... also keeping an eye on it.

 

[K_Robdog]

It looks like its continuing the down trend for now

 

[Zack King]

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....View attachment 14756

bounce back after that ^

 

[georgequayle]

I had a good week on this, last week

 

[sebking1986]

Good analysis and thread, thanks for sharing it. Think I'll be following this one.

 

[DT77]

I think it's a long term sell still

 

[pezza55]

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

 

[Alanmarshall]

GBP is so volatile

 

[REB_FX]

GBP is so volatile

Yea a lot of pips moved this week on a few GBP pairs

 

[Petez_FX]

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

 

[walpants]

im still staying clear of gbp i dont have enough experience to deal with the volatility of it at the moment

 

[momo3HC]

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]

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 🙂

 

[DT77]

thanks for the update, agree with your analysis.....

 

[momo3HC]

I`m hearing the Titanic theme here. 😀

 

[Leebax]

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.

 

[DT77]

Looking good for a fall indeed

 

[momo3HC]

300 pips profit with a single trade? Will be awesome. 😉

 

[Leebax]

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. GLIYF

 

[Leebax]

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 moment