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Action Insight: EURGBP Technical Outlook

Action Insight is the most popular section of the site, read by traders around the world. Our team of analysts work around the clock, analyzing the markets from technical and fundamental perspectives in providing the reports in this section to you.



EUR/GBP Weekly Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Dec 10 16 08:00 GMT
EUR/GBP formed a temporary low at 0.8303 and recovered last week. As upside was limited by 0.8577 minor resistance. near term outlook stays bearish. Initial bias is neutral this week first. Break of 0.8303 will extend the corrective fall from 0.9304 to 0.8116 support. Considering bullish convergence condition in 4 hours MACD, we'll looking for bottoming sign around 0.8116. Meanwhile, break of 0.8577 will argue that the corrective fall from 0.9304 has completed and turn bias back to the upside.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Dec 09 16 04:04 GMT
Intraday bias in EUR/GBP remains neutral as it's bounded in range of 0.8303/8577. With 0.8577 resistance intact, deeper decline would still be seen. And below 0.8303 will target 0.8116 support. Considering bullish convergence condition in 4 hours MACD, we'll looking for bottoming sign around 0.8116. Meanwhile, break of 0.8577 will argue that the corrective fall from 0.9304 has completed and turn bias back to the upside.
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EUR/GBP Mid-Day Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Dec 08 16 14:07 GMT
EUR/GBP's recovery was limited below 0.8577 resistance and weakens again. Intraday bias stays neutral first. Another fall could be seen with 0.8577 resistance intact. And below 0.8303 will target 0.8116 support. Considering bullish convergence condition in 4 hours MACD, we'll looking for bottoming sign around 0.8116. Meanwhile, break of 0.8577 will argue that the corrective fall from 0.9304 has completed and turn bias back to the upside.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Dec 08 16 09:54 GMT
Intraday bias in EUR/GBP remains neutral for the moment. Another fall could be seen with 0.8577 resistance intact. And below 0.8303 will target 0.8116 support. Considering bullish convergence condition in 4 hours MACD, we'll looking for bottoming sign around 0.8116. Meanwhile, break of 0.8577 will argue that the corrective fall from 0.9304 has completed and turn bias back to the upside.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Dec 07 16 08:59 GMT
Intraday bias in EUR/GBP remains neutral for the moment. Another fall could be seen with 0.8577 resistance intact. And below 0.8303 will target 0.8116 support. Considering bullish convergence condition in 4 hours MACD, we'll looking for bottoming sign around 0.8116. Meanwhile, break of 0.8577 will argue that the corrective fall from 0.9304 has completed and turn bias back to the upside.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Dec 06 16 05:43 GMT
EUR/GBP recovered after dipping to 0.8303 and intraday bias is turned neutral first. Another fall is expected with 0.8577 resistance intact. And below 0.8303 will target 0.8116 support. Considering bullish convergence condition in 4 hours MACD, we'll looking for bottoming sign around 0.8116. Meanwhile, break of 0.8577 will argue that the corrective fall from 0.9304 has completed and turn bias back to the upside.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Dec 05 16 04:47 GMT
EUR/GBP's fall extends to as low as 0.8303 so far today, breaking 0.8332 support. The development indicates that corrective fall from 0.9304 is still in prospect. Intraday bias stays on the downside for 0.8116 support next. We'll look for bottoming sign around there. On the upside, break of 0.8577 resistance is needed to confirm short term bottoming. Otherwise, outlook will stay bearish in case of recovery.
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EUR/GBP Weekly Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Dec 03 16 11:08 GMT
The fall from 0.9304 extended lower to 0.8368 last week and met 0.8399 fibonacci level. There is no sign of bottoming yet. Initial bias stays on the downside this week for 0.8332 support. At this point, we'd be cautious on strong support around 0.8332 to contain downside. Break of 0.8577 resistance should confirm short term bottoming and bring rebound back to 55 days EMA (now at 0.8653) and above. However, decisive break of 0.8332 will bring deeper fall to 0.8116 resistance turned support next.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Dec 02 16 06:05 GMT
EUR/GBP's fall from 0.9304 extended lower and hit fibonacci level at 0.8399 already. As such decline is viewed as a corrective move, we're expecting strong support from 0.8332 to contain downside and bring rebound. Break of 0.8577 resistance will indicate that it's completed and turn outlook bullish for 55 days EMA (now at 0.8656) and above. However, decisive break of 0.8332 will bring deeper fall to 0.8116 support next.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Dec 01 16 09:32 GMT
No change in EUR/GBP's outlook. With 0.8706 minor resistance intact, deeper decline is still expected for fibonacci level at 0.8399. Since fall from 0.9304 is viewed as a corrective move, we'd expect strong support from 0.8332 to contain downside, at least for the first attempt, and bring rebound. On the upside, break of 0.8706 resistance will indicate short term bottoming and turn bias back to the upside, possibly for a retest on 0.9304.
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