EUR/GBP - What a great pair to trade!

The support 0.84 confirms its validity on EurGbp: here we go long!!

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Hello traders. Here a little something on the Eur/Gbp that i will share before I get some shut eye for the night. The charts should speak for itself. I have removed the fib ratios to make the pic a little clearer but if you want to then just pull it up on your chart and do the measurements for yourself and consider this a little cheat sheet lol. Also for a clearer picture of the 15m shark scroll to the 15m chart on your charts and check it out. It's there lol. Anyway Enjoy, have fun, make a great day and as always lets all make Bank!!

i expect 140 pips downward

You better count me in too!



the 4th retraced 50% of wave 3, full article HERE

Lots of great analysis on this thread. My view was to follow the long up to at least .8500 but rejection of that number, not even reaching that number within 4 pips showed the longs did not have the heart. Looks like that bearish monthly candle might well play out.

Big news today and tomorrow. Good trading!

Now coffee. Yes I know it's bad for me but I don't put too much whisky in it...

I think that this is a pretty good short, with the bounce off the pivot zone and lower high lower low configuration. Stop at 0.8500. The correlating EURUSD shows a daily pin bar, and we're happy about that too.

Good luck to all.

A word to the unwary: In about an hout the ECB will announce its interest rate policy, followed by a press conference. This will probably lead to volatility in Euro pairs and interest rate changes often make long term changes in direction.

[quote=CNTrader;6652008]Hello traders. Here a little something on the Eur/Gbp that i will share before I get some shut eye for the night. The charts should speak for itself. I have removed the fib ratios to make the pic a little clearer but if you want to then just pull it up on your chart and do the measurements for yourself and consider this a little cheat sheet lol. Also for a clearer picture of the 15m shark scroll to the 15m chart on your charts and check it out. It's there lol. Anyway Enjoy, have fun, make a great day and as always lets all make Bank!! {image}[/quote

Update: Well that was fun with a little help from our friends at the ECB lol. So the 15m bearish shark never materialized but the the neckline had a nice break off the H&S pattern and all three targets were hit. What's next? Stay tuned time will tell!!

Another opportunity to go long on EurGbp. Area 0.84 oversold hourly oscillators: here you can try to enter.

Hi E

I am bearish at the moment. Bullish from 82.00 area if seen

Hi Olu,
I am bullish instead, stop at 0.8390. It’s evident from the graphs that 0.84 is a fundamental support for the continuation of the bull market...

Hi Guys..

With Data out supporting an expanding UK economy ( slightly ) and a contracting Euro zone this helps my TA bias which is short this pair..

I'm short from 85.47

On Thursday, the meeting of the Bank of England could define more clearly the start of a new trend on EurGbp.

EURGBP completed 5 waves cycle. if 0.8500 it breaks 0.8500 demand for euro will increase

Thanks once again for all the insightful analysis showing up here. I remain undecided this pair but I am awaiting an entry.

The level of .8400 is key, which, as Elisab pointed out, forms a strong support (weekly support level from way back) and is also the 38% retracement of the 2012 - 2013 rally. This indicates a possible bullish trend continuation and something I would like to see from a political point of view. I would hate to see the demise of the Euro and the break up of the EEC and I don't think it will happen. The water is very deep and cold and it is important to keep bailing. However a sequence of lower highs and lower lows on the daily presents pressure on this level. This bearish behaviour is backed up by the monthly candles of March/February, in James16 price action parlance is a "double bar high, lower close".

We are still trading within last week's range, which in itself was an inside bar and so I am looking forward to some good trending moves and when that happens I'll jump on the train using my M15 sprinting shoes.

There you are! In other words, I have no idea what will happen next. Long live the Euro...

The attached graph is quite worrying for EurGbp. The spread between the UK – Euro unemployment anticipates EurGbp of about 2 years and this might give the impression that the strength of EurGbp is almost exhausted.

Hi Guys

I have been reading all the analysis on eurgbp. My game plan was that we would break below 84.00 to about 8370 to form the fifth wave down. instead price showed a kind of truncated fifth and rallied. According to my rudimentary EW I was expecting price to go to 8530 area and then fall to 8250 area where price will then take off for good but price has done nothing like that at all. So it has been back to the drawing board for me.

Olu

According to my analysis, the English unemployment will be published on Wednesday.

As we speak eurgbp is making its way higher...84.30 proved to be solid support. Perhaps 84.87 is calling...

Olu