EURGBP<\/h2>\n\n\n\n\n![\"\"](\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/EURGBP-D-scaled.jpg\")
<\/figure>\n\n\n\n![\"\"](\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/EURGBP-M-scaled.jpg\")
<\/figure>\n\n\n\n![\"\"](\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/EURGBP-W-scaled.jpg\")
<\/figure>\n<\/figure>\n\n\n\nLet\u2019s start with the Daily chart. The Daily chart is in a confirmed uptrend, and after breaking to a new Higher High, the market was over extended and it is currently in the process of pulling back, and releasing some of the strong buying pressure<\/a>. On the Weekly chart, we also have a newly confirmed uptrend, with last week candle breaking and closing above the area of around the 0.89.<\/p>\n\n\n\nDrawing the Fibonacci retracement on the Daily chart, has the 38.2% clustering with the High at the round number of the 0.89, which is also the Weekly previous swing High. However, this may be a shallow pullback, and the market may decide to pullback further. In this case, I\u2019ll be looking at the 61.8% retrenchment, which is clustering with the previous Daily swing High, but also with a previous level of support, as can be seen on the Monthly chart<\/a>.
This is my preferred scenario, as it allows for a further distance from the last Higher High.<\/p>\n\n\n\nAs always, I\u2019ll be looking at the lower timeframes for signs that the pullback is over, and the buyers are ready to take control once again.<\/p>\n\n\n\n
Happy Trading!<\/p>\n","protected":false},"excerpt":{"rendered":"
Good morning Traders! Today there are several members of the Bundesbank due to speak, and as the Bundesbank is a very influential member of the European System of Central Banks, we may see increased activity in the Euro. EURGBP Let\u2019s start with the Daily chart. The Daily chart is in a confirmed uptrend, and after […]<\/p>\n","protected":false},"author":15,"featured_media":18279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"none","_seopress_titles_title":"Tracking EUR Movements: Trading Insights | %%sitetitle%%","_seopress_titles_desc":"Stay updated on the latest movements and trends in the EUR market. Gain valuable trading insights and optimize your strategies for success.","_seopress_robots_index":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[6],"tags":[],"class_list":["post-24402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-6"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/posts\/24402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/comments?post=24402"}],"version-history":[{"count":0,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/posts\/24402\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/media\/18279"}],"wp:attachment":[{"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/media?parent=24402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/categories?post=24402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/tags?post=24402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
<\/figure>\n\n\n\n<\/figure>\n\n\n\n<\/figure>\n<\/figure>\n\n\n\nLet\u2019s start with the Daily chart. The Daily chart is in a confirmed uptrend, and after breaking to a new Higher High, the market was over extended and it is currently in the process of pulling back, and releasing some of the strong buying pressure<\/a>. On the Weekly chart, we also have a newly confirmed uptrend, with last week candle breaking and closing above the area of around the 0.89.<\/p>\n\n\n\n Drawing the Fibonacci retracement on the Daily chart, has the 38.2% clustering with the High at the round number of the 0.89, which is also the Weekly previous swing High. However, this may be a shallow pullback, and the market may decide to pullback further. In this case, I\u2019ll be looking at the 61.8% retrenchment, which is clustering with the previous Daily swing High, but also with a previous level of support, as can be seen on the Monthly chart<\/a>. As always, I\u2019ll be looking at the lower timeframes for signs that the pullback is over, and the buyers are ready to take control once again.<\/p>\n\n\n\n Happy Trading!<\/p>\n","protected":false},"excerpt":{"rendered":" Good morning Traders! Today there are several members of the Bundesbank due to speak, and as the Bundesbank is a very influential member of the European System of Central Banks, we may see increased activity in the Euro. EURGBP Let\u2019s start with the Daily chart. The Daily chart is in a confirmed uptrend, and after […]<\/p>\n","protected":false},"author":15,"featured_media":18279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"none","_seopress_titles_title":"Tracking EUR Movements: Trading Insights | %%sitetitle%%","_seopress_titles_desc":"Stay updated on the latest movements and trends in the EUR market. Gain valuable trading insights and optimize your strategies for success.","_seopress_robots_index":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[6],"tags":[],"class_list":["post-24402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-6"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/posts\/24402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/comments?post=24402"}],"version-history":[{"count":0,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/posts\/24402\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/media\/18279"}],"wp:attachment":[{"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/media?parent=24402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/categories?post=24402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/tags?post=24402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
This is my preferred scenario, as it allows for a further distance from the last Higher High.<\/p>\n\n\n\n