EURGBP Short

[TareqS]

Today's candle may close above 0.85000. It is a massive level of resistance and a significant round number. The buyers may push the price towards the North for a while in the daily chart.

 

[bigbax699]

Good morning all. Happy to be ending the trade week on a positive not on the EURGBP trade we are in. Price has broken out of the bearish channel and created a higher high. Smashed past TP1 and we are about to hit into the TP2 zone. The way you manage this trade is now up to you, as you can see I have set my SL into profit under the last swing low. I closed half my position as per the last instruction i released. Now I will leave it to run to either hit TP3 hopefully. NFP today may help us to hit this goal if it comes out bearish for USD. Enjoy the weekend all, I will revisit this pair again next week to see how we progress. GLIYF

 

[ForexTus]

I like TP3 its a nice round number too. Plenty of liquidity to swipe too

 

[Petezaa]

Bias has changed to bullish on this pair, I'll be waiting for pullbacks to get in at buys. The area you've marked around 0.8400 looks good, daily OB which made a new high.

 

[RachelEB]

0.85000 is the area I would like to see it pullback too

 

[sebking1986]

Both are getting battered by USD at the moment but of the two GBP is certainly the weaker one. BoS and looking bullish to me.

 

[bigbax699]

Good morning all, last day of the trading week so just checking over our EURGBP trade. TP2 has been HIT!! As you can see we pierced through the supply zone for a moment and got a rejection. Seems we may need to gather more demand before we break through and reach TP3. I would like to see price gather support here from what was the previous high we broke whilst creating a higher low and then go for the next push north to break the supply. If we get that price action then I will move my SL up to the higher low made level and continue to hold. We have peaked at 333 pips on this setup which is 10:1 R:R and also already banked profits at TP1. Now just running a risk free position which we continue to manage. Hope everyone had a good week, the overall trading markets have been mental recently. Always remember to manage your risk, will update again next week. GLIYF

 

[TareqS]

The marked zone is a flipped level of resistance. Thus, it may hold the price as a level of support. However, considering the bearish engulfing candle right at another significant level may drive the price towards the South.

 

[Glastonburyk]

Good morning all, last day of the trading week so just checking over our EURGBP trade. TP2 has been HIT!! As you can see we pierced through the supply zone for a moment and got a rejection. Seems we may need to gather more demand before we break through and reach TP3. I would like to see price gather support here from what was the previous high we broke whilst creating a higher low and then go for the next push north to break the supply. If we get that price action then I will move my SL up to the higher low made level and continue to hold. We have peaked at 333 pips on this setup which is 10:1 R:R and also already banked profits at TP1. Now just running a risk free position which we continue to manage. Hope everyone had a good week, the overall trading markets have been mental recently. Always remember to manage your risk, will update again next week. GLIYF

View attachment 76699

Solid entry level

 

[ForexTus]

Good morning all, last day of the trading week so just checking over our EURGBP trade. TP2 has been HIT!! As you can see we pierced through the supply zone for a moment and got a rejection. Seems we may need to gather more demand before we break through and reach TP3. I would like to see price gather support here from what was the previous high we broke whilst creating a higher low and then go for the next push north to break the supply. If we get that price action then I will move my SL up to the higher low made level and continue to hold. We have peaked at 333 pips on this setup which is 10:1 R:R and also already banked profits at TP1. Now just running a risk free position which we continue to manage. Hope everyone had a good week, the overall trading markets have been mental recently. Always remember to manage your risk, will update again next week. GLIYF

View attachment 76699

Really like this as a price pathway. It includes some nice round numbers too