Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries EUR/GBP bearish momentum to resume: 1:2 rr potential By: Invezz October 06, 2023 at 10:43 AM EDT EUR/GBP trading strategySell EUR/GBPEntry price: 0.8620 – 0.0875 areaStop loss: 0.88Leverage: 3xTake profit 1: 0.8550Take profit 2: 0.8450Timeframe: 2-3 weeksRisk-reward ratio: 1:2EUR/GBP chart & technical analysisEUR/GBP is a cross pair reflecting the differences between the euro area and the UK economies. Also, it reflects the differences between the two majors it represents – EUR/USD and GBP/USD. In September, the cross met resistance again in the 0.87 area. It looks like it forms a horizontal continuation pattern, after which the market should continue in the same direction as before – lower.Euro fundamentalsI’m looking for euro fundamentals to weigh more on the cross than the UK ones. European growth is weak, if not insignificant, and Q4 perspectives are not great.EUR to GBP trade idea takeawaysThe risk-reward ratio is an attractive oneI’m expecting the decline to gain traction once below 0.86Don’t insist on a decline of more than 0.84A move above 0.8850 would invalidate this scenarioThe post EUR/GBP bearish momentum to resume: 1:2 rr potential appeared first on Invezz. Related Stocks: First Trust Alphadex Euro Div ETF Ucommune Intl Ltd Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
EUR/GBP bearish momentum to resume: 1:2 rr potential By: Invezz October 06, 2023 at 10:43 AM EDT EUR/GBP trading strategySell EUR/GBPEntry price: 0.8620 – 0.0875 areaStop loss: 0.88Leverage: 3xTake profit 1: 0.8550Take profit 2: 0.8450Timeframe: 2-3 weeksRisk-reward ratio: 1:2EUR/GBP chart & technical analysisEUR/GBP is a cross pair reflecting the differences between the euro area and the UK economies. Also, it reflects the differences between the two majors it represents – EUR/USD and GBP/USD. In September, the cross met resistance again in the 0.87 area. It looks like it forms a horizontal continuation pattern, after which the market should continue in the same direction as before – lower.Euro fundamentalsI’m looking for euro fundamentals to weigh more on the cross than the UK ones. European growth is weak, if not insignificant, and Q4 perspectives are not great.EUR to GBP trade idea takeawaysThe risk-reward ratio is an attractive oneI’m expecting the decline to gain traction once below 0.86Don’t insist on a decline of more than 0.84A move above 0.8850 would invalidate this scenarioThe post EUR/GBP bearish momentum to resume: 1:2 rr potential appeared first on Invezz. Related Stocks: First Trust Alphadex Euro Div ETF Ucommune Intl Ltd