You are here: Home > articles > Forex > EUR/GBP intraday technical levels and trading recommendations for March 18, 2017
EUR/GBP intraday technical levels and trading recommendations for March 18, 2017
July 18, 2017 6:54 amVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 15-17, 2024: buy above $2,328 (200 EMA – 5/8 Murray) April 15, 2024
- Video market update for April 15, 2024 April 15, 2024
- Trading Signals for GBP/USD for April 15-17, 2024: buy above 1.2450 (21 SMA – 0/8 Murray) April 15, 2024
- The dollar has not reached its potential April 15, 2024
- Analysis of GBP/USD. April 15th. Retail sales in the USA allow the dollar to continue rising April 15, 2024
- China’s Q1 GDP growth next on the Asian calendar – Preview April 15, 2024
- Technical Analysis – Goldman Sachs stock gains on strong earnings April 15, 2024
- Trading Signals for ETH/USD (Ethereum) for April 15-17, 2024: buy above $3,125 (200 EMA – 2/8 Murray) April 15, 2024
- Analysis for EUR/USD on April 15th. Monday – a tough day for the euro April 15, 2024
- GBP/USD: trading plan for the US session on April 15th (analysis of morning deals) April 15, 2024
- EUR/USD: trading plan for the US session on April 15th (analysis of morning deals). Euro is at an impasse April 15, 2024
- GBP/USD: Will sterling hold steady against dollar? April 15, 2024
- Technical Analysis – USDJPY rallies to another fresh 34-year high April 15, 2024
- Will Netflix earnings take the share price closer to its record highs? – Stock Markets April 15, 2024
- EUR/USD. April 15th. Bulls panic and retreat from the market April 15, 2024
- GBP/USD. April 15th. The dollar gains confidence April 15, 2024
- Weekly forecast based on simplified wave analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, AUD/JPY, and the US Dollar Index April 15, 2024
- XM’s Heartfelt Ramadan Iftar Support April 15, 2024
- Weekly forecast based on simplified wave analysis of EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, and Gold on April 15th April 15, 2024
- Technical Analysis – US 500 reverses towards 123.6% Fibonacci April 15, 2024
Based on the daily chart, the pair has a prominent Supply Zone between 0.8870 – 0.9050 which applied significant bearish pressure on the pair in the previous visit in
November 2016.
Since May 2017, the EUR/GBP pair has been trending-up above the depicted short-term uptrend.
Few days ago, significant bearish pressure was applied over the pair allowing initial bearish reversal signs to appear.
Note that the price level of 0.8750 (Demand Level) may hinder further bearish decline. That’s why, obvious bearish breakdown below of 0.8750 is needed to enhance the bearish side of the market.
H4
Recent Bearish breakdown of the lower limit of the depicted bullish channel that was established in June 2017.
Supply Zone existing around 0.8810-0.8860 has succeeded to pause the ongoing bullish momentum. This may indicate a possible bearish reversal opportunity.
Conservative traders can wait for a bullish pullback towards the mentioned supply-zone (0.8810-0.8860) for a valid SELL entry. S/L to be placed above 0.8880.
Projection Target should be expected near the price level of 0.8650 provided that early bearish breakdown of 0.8750 is achieved.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: