EUR/GBP - What a great pair to trade!

as a resident of los angeles california usa, i am a listener of the LBC(leading britain's conversation), via tunein.com, and i understand that this great britain is taking a vote this june to consider their backing out of the european union... this is big news, i think.... it is my understanding that they are required to pay ten billion pounds for the prvilege of being a member of this european union, and that if they do not continue their membership that their future business transactions with other eu members will be somewhat restricted.

greece recently backed out of the eu, and now maybe the gbp is pulling out...

i dont really know much about all of this, but i think that since we are trading the gbp here that it is worth keeping it on the radar.

http://tunein.com/search/?query=lbc

The problem I have with this pair at the moment is that, along with the Usd, they are currently trading as the weaker currencies. Anyway, thanks for sharing. (Greece is still an EU member by the way)

i am thinking that the current high of approx 7925 is going to be the top and that we are now headed back down at least a hundred pips.

i dont mind being wrong.

I am covering longs just here and looking at shorts for a while. There has been an engulfing H4 bar on any feed. First target ,7830, SL .7890. Last day of the month makes it a bit tricky though.

hello smikester,

i am now out of my short position.



and am now preparing for a long with a takeprofit of 0.8000

Are you still in that trade? Any reason to take it? Are you hoping for poor figures at 09:30? Good luck.

Does anyone see 0.7710 on their charts (4H) for the next 4-5 hours?
I have a small short position at 77.90 with TP 0.7710, SL 0.7810

looking for a move to .7700

A) yes, i do expect that the price will dip down to 0.77 and lower..
B) i am currently long on the eurgbp (as is shown both above and below)
C) i am intending to add more money to this trade.
D) intended takeprofit is above 0.79 and 0.80
E) i dont know how to trade the news.

I did not see your post to answer it. The answer would have been "I don't know". I'm interested in the .7756 level at the moment.

balance is 912, margin used is 312, free margin is 560

This is my view of what is happening with EURGBP now. It is almost as idyllically as the music in the video suggests...

Video coming after the short ad.

http://www.vgtv.no/#!/video/124286/b...faar-snoesjokk

I know the title of the thread is "what a great pair to trade", but I'm not so sure at the moment. Having made a higher high following the February 4th break out and another higher high following the 22nd February break out, we now plunge down to retest the .7704 level. A daily close below this level will be bearish, as we can see that we have recently rejected a key level .7780 - .8050 which formed weeks of consolidation in 2014, 2012 and 2008. If we look at price action into those consolidation zones, each time the price has penetrated deep before consolidation. This time, on the monthly, it has been rejected.

The 3 month steep rise we have experienced is due a retracement and is currently at the 23.6 fib level of .7704. If you were very bullish this pair for whatever reason this would be a good buying level. I'm uneasy, though, that the price has come back here and for bulls, a safer level might be around .7500.

Most buyers achieved their technical target from the double bottom at .7000 and looking at the monthly chart, we have the trend of lower highs and lower lows.



Above today's price could be a consolidation, below could be a good sell. Watch out for where the daily closes are after NFP Friday. Good trading to everyone.

we are in correction,after which sellers should return with targets below .7690

more pain to come,but for now because of hidden divergence,i think it will move higher

my position on eurgbp is long with a breakeven at 0.7731 and a takeprofit of 0.7746

bias is long...
breakeven point was 0.7720
takeprofit is 0.7850
0.30 lots are in play.
each pip is worth $4.32 each.

stop loss order entered at one pip above breakeven....

bias is long..

position reloaded.

bias is long.

bias is short you forgot W1 bear engulfer and rejection on H4 @ WP.