EUR/GBP Trading Room

strong sell signals, interesting upthrust breaking last weekly/monthly top. sold the break out hard. time will tell.

Offer: bargain buy above 0.8695 with the first tp Tick Tick 0.8735 and 0.875 tp second alternative proposals (in case of change of the price) when prices broke below 0.8695 price at the beginning of his move to the 0.868 and 0.866

targets:
first 0.85500
later 0.82000
time will tell

Price is descending. Lets see if it can crack June's low/bottom.

H4

Target====>0.88761
[email protected]====>0.88504=====>0.88761
[email protected]====>0.85912

h4

buy buy buy

best to wait for a pullback since it is overbought

buy the dips targeting 0.92, 0.94

0.90 is solid support

No new thoughts on this pair? Seems like it was headed down but the recent news pushed it up. Not sure of direction as it seems to be on a zone.

inverted h@s . expect a strong move up.

Thanks for the reply. Pattern is there, but it seems to be meeting resistance on a zone - also ADX is showing a decrease in the upward trend IMO. I guess it's waiting on the news items up to Wednesday/Thursday to make an definite move.

yes need some news to move the pair. but the pattern is clear. just have to wait a bit

Expecting upmove for EurGbp

OK. Well I'm no expert, and I'm still learning (trying to get more info on Elliott Wave) but here's my reasons for thinking it's a down.

Zones were drawn on the MN and D1 charts using line chart before switching to candlesticks. Exceptions to these zones would be the even number areas (0.88000 and 0.85000 for example). Based on the zones drawn, the price is coming from a high point and has been making lower highs on the D1. Only exception is at 2017-12-20 through 2018-01-17 where the current price is higher. However, zones are flexible and price needs to establish a trend upwards. The price has basically been on this upper zone area for a while - unless some fundamentals push it upwards again - technically IMO it should be heading down as it's been testing this area for a while.

The D1 shows the price above the 20SMA and on the upper side of the Bollingers. The MN however has it closer to the 20SMA and moving as though it wants to go downwards across the Bollingers. I could be wrong and it could just be a retrace before going more up. RSI is also on the higher side on the D1 while ADX is showing a lack of a trend.

According to the range area I drew on my charts (on the M30 - which I used to see that it's moving sideways) - some definite movement may be seen in the next 4-6 hours. This is all technical however, and I'm really not sure how the remaining news items for this week will push it. So I have pending orders.

*EDIT*
So price broke out of the range and went up as everyone predicted (my wife had said the D1 should be going up). Personally not expecting it to pass 0.88300 before going back down. What factors am I missing with reading this? Was the head and shoulders pattern alone enough for the price to move upwards?

Price currently at ressistance level

Looks like not very many people watch this pair...

I just started watching it, seems to be a slow pace, but good for killing time when other pairs aren't interesting at the moment. I'm expecting a trend change very soon, bullish outlook now turned bearish. Maybe down to about .8740-.8750

Very first post labeled the pair "for persons who like to watch paint dry" - LoL.

Anyways. Guess I was premature on the down. I forgot to take the daily into account. Part of the learning process. I'm focusing mostly on the H4 since it seems to be a good middle ground. Not so low that the higher timeframes take precedence. Not so high that I necessarily need to wait months for movements. Still. I'm learning.

looking at the daily chart it is bullish. above 200 ema, and a clear inverted head and shoulders !!!!

4 h chart rising triangle