EURGBP bounces from multi year lows

Orlando Gutierrez

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.

Key Support: 0.8549
Key Resistance: 0.8640

Long Term View
The EURGBP has moved down 8.25% from the September 9th 2020 highs ia a very choppy way. This market lacks structure but key levels are very well respected.

1H Chart Analysis
The EUR/GBP rejected a multiyear level of support (0.8550) which gave us a buy setup on high probability trade.
There were talks about lifting restriction in the U.K. earlier today which pushed the Pound up and in the case of the EUR/GBP this bullish momentum in the Pound push this pair down almost 3/4 of a percent! BIG move earlier today.

This move clearly rejected our key level around the 0.8550 and we decided to jump in long at the first pullback.

We are still inside of a very strong mid term bearish structure but even high impact data appreciating the GBP is not strong enough to break this multi year level.

We are long and managing our buy position very aggressively because we are trading a mean reversal on a market that clearly bears have under control.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Leave a Reply

Your email address will not be published. Required fields are marked *