EUR/GBP

The pairs is quite overbought showing strong bullish sentiment over the past 24 hours. A good trend and opportunity is shaping! I don't expect any major reversal today with a possible resistance at 0.8600.

On the 4HR chart R1 85750 S1 at 83040,its just bounced off 85500,might be a quick short with low risk tight stop.

No trades on Eur/Gbp during the ECB meeting , we saw a spike which almost hit 85700, next stop I see S1 84200,I will be watching to see activity around that area.

Eur/Usd is getting closer to 0.6000 level that maybe a turning point to trade GBP , wait and see.

Do you think EUR/GBP could fall all the way to 0.8330 again?

I'm using EUR/USD as a guide which I think could go back down to .5000 level if we get a bounce off that level I would look at EUR/GBP then.

Keeping an eye on Gopro which I bought at 9 two days ago.

Still long on eur/gbp from last night , I moved up the stop loss to break even, I will hold this trade till it hits breakeven point.

The pair seems oversold to me, maybe it's time for opening a long position. I see a first support at 0.8371.

Waiting for a daily close above 8572 for bullish confirmation.

I don’t think there will be a bullish confirmation today.

primefxtrading posted:
Waiting for a daily close above 8572 for bullish confirmation.

I wouldn't use closing price for bullish confirmation , that was used in the past but its unreliable now.

Two nice trades on eur/gbp, next Ill wait till we hit 83000 or a change in eur/usd and gbp/usd.

Long at 38.2% 8406 with SL 8304 TP 8572.

This is not a Dollar-related pair, but do you think that the FED interest rate news later today will have a big effect on it?

Everything is Dollar related, its a major trading currency, if eur/gbp does some crazy move before FED news you will know its being priced in by speculators , if it runs flat before hand I would expect whipsaw . If the market believes rates will go up, it wont be a shock so there shouldn't be much of a move.I will be listening on FJ.

Data for the US was mixed , one other thing to consider today, how will algos react to the news , I'm sure some will be switched off and some left on through the event , is there enough manual traders to cover , I doubt it.

Would like to see eur/gbp completing its round trip back to the earlier spike down 83410,I went short from 83786 my first trade after the news,I let it play out as long as possible until what looks like a roll over.

If it does continue falling next target will be around 0.8250, I think.