Jump to content

GBP EUR: Will this up trend continue?


Recommended Posts

Since the 8th of april the pound has been rising well, a decent trend line, however just hoped around the 61.8% fib line and half way placement within the tram line. Momentum however if you look on the half hourly does appear to suggest possible weakness, of course a close beyond the trend line could suggest a turn lower. However, the bank of england tomorow could state something in regards to Brexit of which could either add fire to this momentum or add water. Always great to hear what traders may think of this.


Link to comment

Hi Donald,


I was given a piece of input when I joined my first forum and that is that the more commonly traded cross is, for whatever reason, EURGBP rather than the reverse.  See posts on EURGBP for views on this cross, take them as reversed if you prefer to trade GBPEUR.  I have never been sure why they offer both on this, bit of a mystery to me.





Link to comment

Hy Mercury, cheers for that info, i too could never understand why both pairs in reverse were on offer to trade. Just looked at your charts and see that your analysis was spot on the ball with the shorts. Always best to wait for price confirmation with these things, therefore most likely let this play out first.

Link to comment
Guest fibking

forget charts on this one the trade is on fundamentals eur/gbp is in an uptrend as is telling you all you need to know about brexit the smart money bought ages ago because the uk will not leave europe this would allow a raft of other countries to vote its just not going to happen.those that vote decide nothing those that count the vote decide everything (joesph stalin).find an entry on pullback and go long

Link to comment

The currency does appear to be in an interesting move at present, never mind the brexit, with technical analysis, always best to stick to market fundamentals and critical numbers, rather than the news. Currently in a good uptrend, and has found a good support within the trend line, as well as having a nice bullish candle on the 2H chart. If we have a break out on the daily chart we could see this go higher, however failing that then a resumption of the downtrend would be first noted on the 2 hourly chart. 

Link to comment
  • 2 weeks later...

After a decent run down, which I came out of a touch too early, this pair has now turned and broken through my upper tramline.  I expect a run up to the Fib 50% resistance area, although we may get a pull back and kiss or near kiss on the tram first.  Look for an A-B-C motion up before a resumption of the Bear.  This is nicely fitting my positions on GBPUSD (down) and EURUSD (up then down).


Link to comment


This topic is now archived and is closed to further replies.

  • image.png

  • Posts

    • In the previous year, #bullrun2024 had been a trending hashtag as most crypto enthusiasts continually drooled over the prospects of witnessing another bull cycle. 2024 is finally here and so far so good has produced only fireworks. BTC has soared to 60k+, the market is green, and there’s a general sense that the bulls are returning. If there’s one thing that pays most in such bullish market, it is the flair to spot early gems and position oneself before a breakout. In that regard, Bitget has been my plug for a few years running. The early listing of $ORDI last year for instance before Binance listing 7 months after, and a surge ultimately is well documented. This year alone, Bitget has continued its wealth creation for users nicely, coins like $PORTAL, $GPT, $GTAI and so on have gone on to print for investors as depicted in the picture below. Web3 rewards not just active participation, but strategic positioning. There’s no gainsaying that the key to securing insane profits in this market is by positioning early and strategically too. Bitget’s eagle-eye for spotting early gem is a flex. Numbers don’t lie.  
    • Portal itself is awesome. Those who haven't got any airdrop, I think it's best time to accumulate for them.. tho, I'm gonna DCA....
    • Nope the hype is worth it. The project is dope itself as well as the team. Already deposited my bag at Bitget... Let's hope for the best 🤞
  • Create New...