EURGBP Short

[JimmyRozza]

After seeing a bullish breakout on the daily this looks like a retracement to me which is now at a level I'd want to see a confirmation of bullishness. It has created a low resistance liquidity run to the high from mid June now.

What's your bias currently? Bullish or bearish?

 

[ForexTus]

Tough pair to trade at the moment especially with GBP raising the interest rates by a fair amount. Ill be watching from the sidelines for a little while longer

 

[TareqS]

The pair made a good bullish move in the H4 chart to close its trading week. The buyers may keep their eyes on the pair to go long from the value areas.

 

[SimonMatthews]

I am in for a long term buy on this pair. It has broken structure so looks to be bullish for a while.

 

[TareqS]

The pair has been very bearish in the H4 chart today. It may find its support around 0.84000. A bearish breakout at the level may drive the price towards the South further. The buyers must wait for a strong bullish reversal pattern to go long in the pair.

 

[TareqS]

The H4 chart shows that the price produced an ABC pattern and made a good bullish move. An up trending trend line can be drawn. The buyers may keep their eyes on the trend line to go long in the pair.

 

[ForexTus]

Have you had much success with the ABC type trading strategy?

 

[TareqS]

The pair seems to be bullish upon finding its support at 0.84000. The buyers may wait for the price to consolidate and produce a bullish reversal candle to go long in the pair. The level of 0.8500 may work as a level of resistance in the H4 chart.

 

[ForexTus]

The pair seems to be bullish upon finding its support at 0.84000. The buyers may wait for the price to consolidate and produce a bullish reversal candle to go long in the pair. The level of 0.8500 may work as a level of resistance in the H4 chart.

What else would you look for besides a bullish reversal candle to enter?

 

[TareqS]

The price made a significant bullish breakout at 0.85000. The buyers may wait for the price to consolidate and produce a bullish reversal candle to go long in the pair. The price may find its next resistance around 0.86000.