EUR/GBP - What a great pair to trade!

I am also long 0,8614

a bounce could come this week, and downside is limited on the short term

in that case I would watch 0,87, a test of that area could reveal if there's more potential for the Euro

The euro was subjected to heightened volatility in the New York session, whipsawing around the 1.33-level on contrasting reports which shed more light on the developments with the Greece deficit crisis

Interesting

Just closed my trades close to .8700 after - I must admit to - jitters regarding both the Euro and the Pound. A bit too volatile for me. Watch this space.

still holding my longs from 0,8614

I will close if 0,8720 / 45 area will continue to cap the bounce

yet I expect more rise for EUR to come, GBP will probably follow though

Guys,
Here's a analysis found about EG...
http://www.cantos.com/charts/company/CMC+Markets/project/6300/term/analysis

Your views about ?

Thanks for posting that. I think it was a lucid analysis but for me, not tradeable, and I'll tell you why. Looking at the daily channel and the weekly chart doesn't give me any solid direction at the moment because the daily is currently in consolidation on and around the lower trend line. Add to this consolidation the last week bar which was bullish, in my opinion.

This tells me to be careful with shorts at this level and that is all it tells me for now. We may re-visit the upper trend line. I may be bearish in the longer term but if I was to start building short positions I would be looking for better prices than these on this pair, or the stop loss would be too far away. I am always looking at getting into the longer term moves on a smaller time frame and I'm not seeing this here:

A million miles, a million miles. OK never mind. Now I'm setting sell limits at .8600 just to show I can be wrong and carry on.

Daily close below .8600. Got to be a no brainer.

i have it on tl support, break exposes 0.84573 (1/8/2009 weekly low) and 0.8402 (20/6/09 weekly low), below that 0.8245 (22/11/2008 weekly low), but tomorrows election will be the decider if we're gonna see that far down.
do you think there will be a retest of 0.86 before more down?

EUR/GBP intraday: under pressure.
Pivot: 0.855

Our preference: Short @ 0.8525 with targets @ 0.8468 & 0.8428 in extension.

Alternative scenario: Above 0.855 look for further upside with 0.8575 & 0.8605 as targets.

Comment: the RSI has struck against a major resistance around 70% and is reversing down.

Key levels
0.8605
0.8575
0.855
0.8525 last
0.8468
0.8428
0.836

http://www.tradingcentral.com/chart/...0506194534.GIF


More analizis here

Just shorted here at 0,8480...tight stop at 0,8494 (above last high) for a little move down to 0,8850

Trend is still down ....lower highs & lower lows in the making...it worth a shot

Ok 30 pips profits in the pocket...waiting for a retracement first...but i'll wait 1 hours cause of the UK news.. it's too risky now

It's longer term long for me from here. Buying at .8450 and I shall start buying dips.

I'll be too scared of going long on long term when i look at the dailyweekly chart...
I'll sell rallies personaly.... but good luck with your trades

PS : Chonchy sends you his regards

First stop .8600 and then I'll make a decision. Send Chonchy my best wishes.

the buy at 0,8450 was good for the short term

but if it goes to 0,86, I would take profit and turn into seller

I'm going to close some of my positions here but I'm wondering if the Euro might bounce a little at 1.25. "Like a ton of bricks" - LOL -

But I don't see much upside for GBP at the moment.




Where I put the comment "pierced here" there was a weekly close at 0.8612 which might indicate that this level will be broken now. Where was the open? 0.8700. Followers of this thread might be seeing a pattern here. I certainly am.

It would be a very nice area 4 loading ....SHORT....!



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Yep. Sure do.

Pin bar on the 8 hour off 0.8600. Closing my longs. Sigh... Down we go again I suspose.

smikester, nice patience on your part to 8600....i'm looking at 8640 confluence area of weekly pivot, DTL and 61.8 fib expansion of A-B-C projection (9410-8600-9150) on weekly chart

now what i need is a little of your patience