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EUR/GBP - What a great pair to trade!

  • #2,321
  • Mar 4, 2014 12:42pm Mar 4, 2014 12:42pm
why is this pair so great ?
  • #2,322
  • Mar 5, 2014 1:19am Mar 5, 2014 1:19am
Quoting chonchy
{quote} Nice trading Old friend, hope all is fine on that side of the woods......
Hello Chonchy. I hope all is going well with you. The usual thing here - too many cocktails, slow horses and fast women.
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  • #2,323
  • Mar 5, 2014 1:25am Mar 5, 2014 1:25am
Quoting allisonmagic
why is this pair so great ?
It just is, OK?

But seriously, it was considered to be a good pair. The last two years have lacked a useful daily trending behaviour, a lot like some other pairs. The London open trades well off a small Asia range, for obvious reasons. Then you could read this: http://www.forexfactory.com/showthre...50#post3193650.

Then you might consider it is a pair usually with good liquidity that doesn't have US dollar in it, so you don't over leverage on Usd...

Good enough? Not sure...
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  • #2,324
  • Edited 2:47am Mar 5, 2014 2:32am | Edited 2:47am
Where we are now, approaching and consolidating at .8200, is a bit tricky. My experience tells me we usually break and go lower with this behaviour. In the past we have seen various scenarios here. It's a significant point. Gbp/Chf is playing around at 1.48...

What do you think?
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  • #2,325
  • Mar 6, 2014 1:29pm Mar 6, 2014 1:29pm
Quoting Zappa
{quote} Gotta feeling .8286 will get hit before the big fall.
Now comes the big fall, I reckon.
  • #2,326
  • Mar 7, 2014 3:13am Mar 7, 2014 3:13am
Fakey off the London open @ .8283 with an engulfing hourly bar leads me to believe shorts are the way forward here:

Chart:

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp140307d1.JPG Size: 108 KB
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  • #2,327
  • Mar 7, 2014 3:55am Mar 7, 2014 3:55am
Not so simple! We broke and retested last year's lows and so there could be a tussle here. Around the .8270 area. I'm out.
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  • #2,328
  • Mar 12, 2014 6:03am Mar 12, 2014 6:03am
- We could see 0.8404 after we see what is the market going to do @ 0.8371
Attached Image (click to enlarge)
Click to Enlarge Name: SS Screen Capture #224.png Size: 27 KB
  • #2,329
  • Mar 12, 2014 11:45am Mar 12, 2014 11:45am
Quoting Ziko9o8
- We could see 0.8404 after we see what is the market going to do @ 0.8371 {image}
All I could manage was this morning's long from .8343. Still running, but great trading Ziko.
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  • #2,330
  • Mar 12, 2014 11:47am Mar 12, 2014 11:47am
Quoting smikester
{quote} Great trading Ziko.
Thanks, how are u doing in that Chemtrailed weather in UK?
  • #2,331
  • Mar 12, 2014 11:51am Mar 12, 2014 11:51am
Quoting smikester
{quote} All I could manage was this morning's long from .8343. Still running, but great trading Ziko.
Your target ....
  • #2,332
  • Mar 12, 2014 12:03pm Mar 12, 2014 12:03pm
Quoting Ziko9o8
{quote} Your target ....
I'm hoping for .8400 if I don't get knocked out at 3 : 1 where I have stops. I see your .8370 although I didn't have it marked. If we go down to retest .8350 and bounce from there, then a complex looking head and shoulders could be validated with a technical target of .8580.
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  • #2,333
  • Edited Mar 13, 2014 5:47am Mar 12, 2014 12:08pm | Edited Mar 13, 2014 5:47am
Quoting Ziko9o8
{quote} Thanks, how are u doing in that Chemtrailed weather in UK?
Don't wind me up, lol. We are having wonderful weather after a very wet winter. It is now cold and crisp and sunny. My favourite kind of weather. Hoping all is good in your part of the world.

Of course you may be alluding to the price fixing "scandal" which so many are talking about. So now traders aren't allowed to talk to each other? Trading desks aren't allowed to profit from their deals? Clients aren't allowed to choose another bank?
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  • #2,334
  • Mar 12, 2014 2:28pm Mar 12, 2014 2:28pm
I'm looking for a further move up to around 8550 after a fill in over the next few days of some gaps below. I see the daily trend line ran back to the pip to fill in the weekly gap before breaking the daily trend line. Entered some shorts at a good level with three good inefficient moves below waiting to be filled. hoping to get back to 8250 before running long again and filling all gaps above.

Thats the plan anyway
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Chart_EUR_GBP_Weekly_snapshot.png Size: 33 KB
Click to Enlarge Name: Chart_EUR_GBP_Daily_snapshot.png Size: 37 KB
Click to Enlarge Name: Chart_EUR_GBP_Daily_snapshot 2.png Size: 23 KB
Click to Enlarge Name: Chart_EUR_GBP_4 Hours_snapshot.png Size: 37 KB
  • #2,335
  • Mar 13, 2014 8:03am Mar 13, 2014 8:03am
This pair seems to be stepping down nicely from the high at the moment.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_EUR_GBP_15 Mins_snapshot.png Size: 33 KB
  • #2,336
  • Mar 13, 2014 8:17am Mar 13, 2014 8:17am
  •  EDG
  • | Joined Feb 2007 | Status: Nothing is fixed. Keep an open mind | 229 Posts
eurgbp between critical level of 8350 and 8365. Unless it can break and stay above 65. A break below 8350 and then 8330 would see the pair going on a downtrend mode.
Hindsight is useless if you never learn anything out from it
  • #2,337
  • Mar 13, 2014 2:17pm Mar 13, 2014 2:17pm
Quoting EDG
eurgbp between critical level of 8350 and 8365. Unless it can break and stay above 65. A break below 8350 and then 8330 would see the pair going on a downtrend mode.



Looks like 330 is holding for know. Will add some more shorts if it gets back to test 355. I see it could retest 375 from some inefficient moves down.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_EUR_GBP_15 Mins_snapshot.png Size: 33 KB
  • #2,338
  • Edited 4:01am Mar 14, 2014 3:47am | Edited 4:01am
Added to short positions with the pull back.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_EUR_GBP_30 Mins_snapshot.png Size: 33 KB
  • #2,339
  • Mar 14, 2014 7:15am Mar 14, 2014 7:15am
Added another short to position
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_EUR_GBP_15 Mins_snapshot.png Size: 34 KB
  • #2,340
  • Mar 16, 2014 2:12pm Mar 16, 2014 2:12pm
On EUR/GBP we currently see two super strong currencies battling it out so fiercely that neither pair has given up more than 50 pips this past week.

Even with the GBP/USD trading slightly lower this week but holding support and the EUR/USD seemingly finding endless buying</a> neither pair has been able to gain the upper hand this past week.

If we see risk on continue out of the weekend GBP/EUR may slide a bit more but expect buyers to come back in and put up a fight.

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