EUR/GBP Trading Room

Contact with the weekly resistance @8752

EUR/GBP is always in a corridor - walking up and down. Up is almost no space any more, but down is a lot! it can climb a little - but wait - it MUST fall - and I think VERY LOW. My guess is - below 0.8590
Let's get some pips:-)

Do you have any technicals supporting that fact? I think euro can go high.. fundamentals are too much in supportive of euro. We have almost a certain rate hike coming up in april.. and trichet has already confirmed that.. so don't you think that we can see euro going higher?

nice bearish gartley pattern form at eur/gbp...daily bearish trend line....
sold @ 0.8755 SL 0.8840 TP 0.8610

Hi Veer,
When you study history of this pair - there is everything you need. There was no space up - O.K. some pips - but it didn't take them up, as we all know today.
Down is a lot of space. This is history of days, monthes or years. General trends are slow, short term trends earn more money - and this is where I said it can noclimb much - but fall a lot.
Now I am proud to be in this trade.

There are more such corridor pairs. All the same system.

Notice bullish channel on H4 chart is formed. Previous resistance is now turning to support @ 0.8635. Planning to open long orders at this support. It would be amazing for price to touch the point where support and channel lower line matches (see green arrow). Exit position if price brokes channel.
https://lh6.googleusercontent.com/-g.../eurgbp_h4.png
Regards

Exactly im just waiting for the pinbar to close right at that s/r level. nice setup...we'll see

Kenny

The pair found resistence at .88108 and appear headed down .85500? .85000?

closed for -63pips...

The price action on this pair has reached the upper resistance line and made a dramatic turn. Ride the wave

Price action could go down to .84300

???

This is a test of 88 in November 2010:



It came back up from 8720 to test 8770.

This time it did the same, but also re-tested trend line break:

As you see in the chart , there is a good chance to buy EURGBP as I think.

Again as you see EURGBP is over sold and is ready for up trend .

What can we expect abou ERU/GBP???
He is going down fast but it can go more deep? Untill when??
Thankssss
and cheerssss

hey all,

I know its crazy going long EURO at the moment but I entered a Long EUR/GBP at 0.8605 as we are hitting a strong old trendline and have bounced 300-500 pips before, combined with H4 oversold scenario, i thinks its good enough for a few hundred pip bounce.

Anyway good luck everyone.

JeremyWS:
Your fxbook is private - it causes an error for me :-(

Gerhard

I agree with u JeremyWS, but i dont think that we will have a long trade, i think that we will a have a little correction, for the pair go down again.
Do u are thinking that?
cheers

Channel down looks like good resistance to me + divergence