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EURGBP Pattern Signals Bullish Reversal Ahead

EURGBP has been in free fall since March 19th, when it rose to 0.9500. A month and a half later now, the pair is hovering below 0.8730, down 8% from the peak. Is the downtrend going to continue or should we expect a change of direction? That is the question we hope to answer in…

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EURGBP Prone to More Weakness

EURGBP has been rising for over two months now. The pair’s journey to the north began from 0.8313 in mid-April and did not stop until 0.8879 was reached on June 28th. However, everything comes to an end and the euro’s rally against the pound is unlikely to be an exception. In fact, judging from the…

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EURGBP Still Has Plenty of Room to Rise

Our last post about EURGBP was published on August 23rd, while the pair was trading near 0.8600. There were two charts included in that material, showing two different counts, but in any case, we thought we should see at least a small pullback, before the uptrend resumes. “It definitely does not seem to be the…

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EURGBP: Time to Turn Bearish?

EURGBP has been in a strong and steady uptrend since November 2015, when it finally managed to leave the area between 0.6930 and 0.7100. The consecutive bottoms were needed for the bears to realize the support zone there was too strong for them to breach. Last week, the pair climbed to 0.8724. But every trend is…

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EURGBP Strength Could Be Deceptive

ECB’s policy decision produced fireworks in EURGBP on Thursday. The pair initially fell to 0.7651, but then rose sharply to 0.7848. Trouble is, this gives us no clue about what to expect from the pair next. Is it a “buy” or a “sell”? Fortunately, the Elliott Wave principle eliminates the “flip a coin” approach, by…

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EURGBP Bulls To Take A Step Back?

The Elliott Wave Principle is famous for its ability to help traders and investors identify price extremes and predict reversals. Two months ago, on August 2nd, we applied it to the 4-hour chart of EURGBP. In an article, called “EURGBP Trying To Find The Bottom”, it warned us that a bullish reversal might occur soon. You…

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EUR GBP Trying To Find The Bottom

Both the euro and the sterling suffered from the strength of the dollar, but compared to one another, the European currency was the bigger loser, since it fell against the pound as well. However, the 4-hour chart of EUR GBP shows something, which might cheer the bulls up. There seems to be one Elliott Wave…

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Is EURGBP Ready To Take Off?

We have been waiting for a bottom in EURGBP for quite a while now. In our previous analysis of this pair – “EURGBP Could Turn Bullish Soon” – the chart was suggesting we are probably in wave (5) of a five-wave impulsive sequence. The length of fifth waves is difficult to predict. Sometimes they barely…

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When Does an Elliott Wave Setup Fail?

As a rule, you should never give up on a trade, if it still has the potential to develop in your favor. But how to determine, if a trade is no longer valid? Fundamental market analysis does not provide such information at all. Conventional technical analysis rarely gives you a concrete level for the protective stop. Only…

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EUR GBP Could Turn Bullish Soon

The EUR GBP exchange rate went below 0.77 today, which is its lowest level since March 2008. To many this may be a reason to get more and more bearish on the pair with each pip to the downside. However, the Elliott Wave Principle signals a “proceed with caution” sign, because it could be time at least…

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EUR GBP looks weak on the intraday

The 15-minute chart of EUR GBP shows a clear 5-3 Elliott Wave cycle. According to the theory, we should now expect another five-wave decline to lead the exchange rate at least below 0.7915. This count would be invalidated, if prices go back up to 0.7984

EURGBP developed well

On April 24th we showed you an intraday trading idea, suggesting that EURGBP should make a new top on the 15-minute chart. As you can see on the chart below, the situation developed well, with EURGBP climbing to 0.8250, which is above the previous high. The whole three-wave pattern now looks like a zig-zag A-B-C, with…

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EURGBP short term idea

EURGBP made a small impulsive five on the 15-minute chart, followed by a three-wave decline. Wave (3)/C to the upside should start soon, which could be a good intraday buying opportunity. The invalidation level is at 0.8195, below the start of the rally.

Where the protective stop should be?

It is not difficult to get emotional about trading. And as many of you probably know, emotions are rarely helpful, when you have to make financial decisions. So, what can we do as traders, in order to protect ourselves from our own human imperfections? And the answer is one – to put our protective stop…

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EUR GBP Cross Rate

Both EUR and GBP look weak against the US dollar, but which one of them is weaker, compared to the other? There are two wave counts on the charts below, suggesting that the EUR should be stronger than the GBP in the long term.