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EUR/GBP - What a great pair to trade!

  • #3,461
  • Nov 21, 2016 5:05pm Nov 21, 2016 5:05pm
Quoting smikester
.8600 - I'm looking for longs here, failure possible: {image}
Massive failure of support, just after I posted here. That went deep. Fortunately I didn't buy here but I did take a sucker punch elsewhere. This game is very humbling and I'm still wondering what moved the Pound. I suspect the Bank of England.
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  • #3,462
  • Nov 21, 2016 5:15pm Nov 21, 2016 5:15pm
Quoting smikester
.8600 - I'm looking for longs here, medium to longer term. This is the 38.2 Fibonacci retracement level. I have studied this this level at length. It has only a minor edge to it, if at all. The fact is, a lot of technical traders use it. It sometimes holds and then fails for this reason. In this situation, Eur/Gbp, it combines with a divergent daily candle, in an uptrend which was so fierce that it was due a major correction. We are also touching the July - August resistance zone, now potentially support. Low margin, high hopes, failure possible:...
I'm keeping my eye on the SMA200 on the daily. Seems like the pair is aiming to test it. I don't have the guts to long this pair until that has been tested and held.
Mark
  • #3,463
  • Nov 21, 2016 5:33pm Nov 21, 2016 5:33pm
Quoting pilottrader
{quote} I'm keeping my eye on the SMA200 on the daily. Seems like the pair is aiming to test it. I don't have the guts to long this pair until that has been tested and held.
Yup. Longs are out & 77 is my ultimate target
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  • #3,464
  • Nov 21, 2016 5:35pm Nov 21, 2016 5:35pm
"The currency responded to supposed hints from UK prime minister Theresa May about a Brexit transition deal."
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  • #3,465
  • Nov 21, 2016 5:40pm Nov 21, 2016 5:40pm
Quoting CrazyOz
{quote} Yup. Longs are out & 77 is my ultimate target
I like it. I'm looking for a bounce somewhere around .8300 first. Then I'll close and look to build a short.
Mark
  • #3,466
  • Nov 21, 2016 9:31pm Nov 21, 2016 9:31pm
Quoting CrazyOz
{quote} Yup. Longs are out & 77 is my ultimate target
However, nothing ever goes in a straight line. Although the higher time frames target 77, the 1H is showing a possible move North first.?? Be prepared. The EU may drag this up temporarily.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPH1.png Size: 31 KB
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  • #3,467
  • Nov 22, 2016 2:12am Nov 22, 2016 2:12am
Cogent technical analysis here, by Justin Bennett.
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  • #3,468
  • Nov 24, 2016 11:57am Nov 24, 2016 11:57am
- Scalping shorts until 0.8275

- Market is very slow around 0.8475
  • #3,469
  • Nov 29, 2016 8:04pm Nov 29, 2016 8:04pm
Slow, but it's steady. The fact that price bounced off EMA50 resistance (that was quite worrying) on the 4 hour, and headed south has given me a little more confidence of the move to test the SMA200 on the daily, around .8300. This is much more fun to trade than EUR/USD!
Mark
  • #3,470
  • Nov 30, 2016 6:57pm Nov 30, 2016 6:57pm
Watch this level guys. This is a previous low, that if it cleared, would open the door to test the SMA200 on the DAILY, .8300.
Mark
  • #3,471
  • Dec 1, 2016 8:16am Dec 1, 2016 8:16am
Hope everyone caught this nice fall?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURGBP Day.png Size: 348 KB
Click to Enlarge Name: EURGBP.png Size: 72 KB
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  • #3,472
  • Dec 4, 2016 9:12pm Dec 4, 2016 9:12pm
Eur/Gbp extend its decline, immediate support level can be found 0.8300 level, break below would lead to 0.8200 zone.
  • #3,473
  • Dec 5, 2016 11:12am Dec 5, 2016 11:12am
I'm liking the possibility of longs off this level. Just keeping an eye open for entries.
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  • #3,474
  • Dec 6, 2016 5:28am Dec 6, 2016 5:28am
After touching its four and a half month low of 0.8310 on the back of Italy referendum “No Vote” the pair turned upside again yesterday. Despite of the strong UK services PMI the pound remains lower versus the euro. This was due to the fact that investors clearly did not view the “No Vote” as the vote on EU membership. Also increase of German bond yields against the US yields led to rise in the major pair of euro. The next major move for the pair will be decided after the ECB meeting due on Thursday. Till then, the pair is expected to take immediate support near 0.8400 levels.
  • #3,475
  • Dec 6, 2016 5:50am Dec 6, 2016 5:50am
I'm currently waiting for a push up on 30min with MACD divergence for a potential short enter. Let's see what plays out.
Attached Image(s) (click to enlarge)
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Excellence is not an act but a habit.
  • #3,476
  • Dec 7, 2016 6:49am Dec 7, 2016 6:49am
Still waiting for a short trade from yesterday's analysis. If it breaks higher, I'll pass and look for another setup.
Attached Image (click to enlarge)
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Excellence is not an act but a habit.
  • #3,477
  • Dec 14, 2016 5:12am Dec 14, 2016 5:12am
In previous session, pair dipped to lows near 0.8350 after the release of UK CPI data. Inflation report for UK accelerated to 1.2% against the expected 1.1% and 0.9% for the month of October. But later in the last day trading session, pair reverses the trend and rose above the 0.8400 level. As EUR/USD touched its 5-day high of $1.0653 on the back of positive euro zone economic sentiment and dollar which traded flat near 101 levels ahead of the concerns from Fed decision.
  • #3,478
  • Dec 15, 2016 10:26am Dec 15, 2016 10:26am
Although I have no open trades, I like the rejection of the 38.2% fibonacci level for a continuation of the weekly up trend. I also like the fact that this meets .8300 which has been a structurally significant level.

On the hourly, we have a range, or compression spanning four days to trade out of. I don't often post trades but I like long at .8435, stop at .8390, with take profits on the way up and at There's good resistance at .8600 and .8700, the July and August peaks.

Here are a couple of charts:

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Not the best pair to trade in my opinion, but I like the above trade.
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  • #3,479
  • Dec 18, 2016 8:55pm Dec 18, 2016 8:55pm
EUR/GBP getting some momentum out of this zone today.

Strong open.
Attached Image (click to enlarge)
Click to Enlarge Name: 161219_eurgbp_daily.png Size: 56 KB
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  • #3,480
  • Dec 18, 2016 10:14pm Dec 18, 2016 10:14pm
Quoting smikester
.....Not the best pair to trade in my opinion, but I like the above trade.
Nice analysis smikester. I missed the previous short trade on this pair and I currently don't see any setup.

Quoting Vantage FX
EUR/GBP getting some momentum out of this zone today. Strong open. {image}
Lets see if we get a strong break of the zone.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURGBPWeekly.png Size: 38 KB
Click to Enlarge Name: EURGBPM30.png Size: 47 KB
Excellence is not an act but a habit.
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