Tags » Eur/Gbp

EUR/GBP has taken out big rising trend line resistance

Weekly chart – The trend line resistance rests somewhere around 0.8860. The cross currently trades around 0.8873 levels. Since late May, numerous attempts to break higher convincingly have failed… especially the last week’s candle, which turned really ugly following a failure to hold above trend trend line

Forex

Big level to watch out for on EUR/GBP

The key level to watch out for on the higher side is 0.9070 – 161.8% Fibonacci extension of the rally from 1999 low. The level acted as a good resistance in 2010, 2011, and 2016. 25 more words

Forex

EUR/GBP - Look how trend lines work as resistance

Daily chart – The uptick ran into offers at the resistance offered by trend line sloping upwards from May 11 low and June 9 low.

Daily chart

Forex

EUR/GBP looks like seller's market

The weekly chart below shows consecutive candles with long upper shadows. On the daily chart it would look like a nice rounding top… Also worth noting is that the rising trend line from November 2015 has been breached. 25 more words

Forex

Technicals: EUR/GBP - I bet its turning over

Apart from the bearish RSI divergence, what makes me more confident is that the golden cross on the daily chart. Any time the short-term moving average cross the long-term moving average it is the golden cross – A bullish lagging indicator, which is almost always a sign of trend reversal :) 21 more words

Forex

Technicals: EUR/GBP readies for 100-pip drop

The daily chat below shows the pair is turning over after breaching the rising channel. The daily RSI is yet to breach the neutral level (50.00), so that could be a reason to stay on the sidelines, however, on the weekly chart, we see 4 straight candles with long upper shadows (pointing to sell on rise mentality). 54 more words

Forex