EUR/GBP Technical outlook and review
4hr TF.
Technically not a lot has changed since the last analysis as price is still seen trading between the 4hr S/R flip level at 0.79679 and 4hr demand below at 0.78862-0.79048.
Temporary 4hr resistance is seen between 0.79586-0.79534, and this is all, at the time of writing stopping price from hitting the 4hr S/R flip level at 0.79679. Considering we have just traded out of daily demand at 0.78862-0.79206, this aforementioned temporary resistance area is likely inclined to see a break north very soon. However before this happens be prepared for a retracement to at least down to a very minor demand area (circled) around 0.79388.
Pending/P.A confirmation orders:
• Pending buy orders (Green line) are seen just above demand (0.78862-0.79048) at 0.79076. A pending buy order is placed here due to the aforementioned 4hr demand area’s location in the higher timeframes (Within the compressed green arc from weekly demand: 0.76931-0.78623… Seen on Monday 7th July analysis), and daily demand at 0.78862-0.79206.
• No P.A confirmation buy orders (Red line) are seen in the current market environment.
• Pending sell orders (Green line) are seen just below the S/R flip level (0.79679) at 0.79641. Our rationale behind placing a pending sell order here is simply because this was a decision point area made at the aforementioned S/R flip level during NFP Thursday, meaning pro money were certainly active, and unfilled sell orders are more than likely still lurking there.
• No P.A confirmation sell orders (Red line) are seen in the current market environment.
• Areas to watch for buy orders: P.O: 0.79076 (SL: 0.78846 TP: Dependent on price approach) P.A.C: No P.A confirmation buy orders are seen in the current market environment.
• Areas to watch for sell orders: P.O: 0.79641 (SL: 0.79747 TP: Dependent on price approach). P.A.C: No P.A confirmation sell orders are seen in the current market environment.
Technically not a lot has changed since the last analysis as price is still seen trading between the 4hr S/R flip level at 0.79679 and 4hr demand below at 0.78862-0.79048.
Temporary 4hr resistance is seen between 0.79586-0.79534, and this is all, at the time of writing stopping price from hitting the 4hr S/R flip level at 0.79679. Considering we have just traded out of daily demand at 0.78862-0.79206, this aforementioned temporary resistance area is likely inclined to see a break north very soon. However before this happens be prepared for a retracement to at least down to a very minor demand area (circled) around 0.79388.
Pending/P.A confirmation orders:
• Pending buy orders (Green line) are seen just above demand (0.78862-0.79048) at 0.79076. A pending buy order is placed here due to the aforementioned 4hr demand area’s location in the higher timeframes (Within the compressed green arc from weekly demand: 0.76931-0.78623… Seen on Monday 7th July analysis), and daily demand at 0.78862-0.79206.
• No P.A confirmation buy orders (Red line) are seen in the current market environment.
• Pending sell orders (Green line) are seen just below the S/R flip level (0.79679) at 0.79641. Our rationale behind placing a pending sell order here is simply because this was a decision point area made at the aforementioned S/R flip level during NFP Thursday, meaning pro money were certainly active, and unfilled sell orders are more than likely still lurking there.
• No P.A confirmation sell orders (Red line) are seen in the current market environment.
• Areas to watch for buy orders: P.O: 0.79076 (SL: 0.78846 TP: Dependent on price approach) P.A.C: No P.A confirmation buy orders are seen in the current market environment.
• Areas to watch for sell orders: P.O: 0.79641 (SL: 0.79747 TP: Dependent on price approach). P.A.C: No P.A confirmation sell orders are seen in the current market environment.
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