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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 Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jul 06 15 04:02 GMT
EUR/GBP dips in early trading but quickly recovered. Intraday bias remains neutral first. Prior break of 0.7013 support indicate larger down trend resumption and we'd expect further decline ahead. Upside of current recovery should be limited by 0.7210. Break of 0.6985 will target 61.8% projection of 0.8006 to 0.7013 from 0.7388 at 0.6774. However, firm break of 0.7210 will dampen our bearish view and turn focus back to 0.7388 resistance instead.
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EUR/GBP Weekly Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jul 04 15 09:31 GMT
EUR/GBP dropped to as low as 0.6985 last week and formed a temporary low there and recovered. Initial bias remains neutral this week first. The break of 0.7013 support indicate larger down trend resumption and we'd expect further decline ahead. Upside of consolidation recovery should be limited by 0.7210. Break of 0.6985 will target 61.8% projection of 0.8006 to 0.7013 from 0.7388 at 0.6774. However, firm break of 0.7210 will dampen our bearish view and turn focus back to 0.7388 resistance instead.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jul 02 15 04:47 GMT
Intraday bias in EUR/GBP remains neutral for the moment. The larger down trend should have just resumed and we're expecting another fall ahead. Upside of current recovery should be limited by 0.7210. Break of 0.6985 will target 61.8% projection of 0.8006 to 0.7013 from 0.7388 at 0.6774. However, firm break of 0.7210 will dampen our bearish view and turn focus back to 0.7388 resistance instead.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jul 01 15 12:13 GMT
Intraday bias in EUR/GBP remains neutral for the moment. The larger down trend should have just resumed and we're expecting another fall ahead. Upside of current recovery should be limited by 0.7210. Break of 0.6985 will target 61.8% projection of 0.8006 to 0.7013 from 0.7388 at 0.6774. However, firm break of 0.7210 will dampen our bearish view and turn focus back to 0.7388 resistance instead.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jun 30 15 04:45 GMT
EUR/GBP rebounded strongly after dipping to 1.6985 and intraday bias is turned neutral first. The larger down trend should have just resumed and we're expecting another fall ahead. Upside of current recovery should be limited by 0.7210. Break of 0.6985 will target 61.8% projection of 0.8006 to 0.7013 from 0.7388 at 0.6774. However, firm break of 0.7210 will dampen our bearish view and turn focus back to 0.7388 resistance instead.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jun 29 15 02:19 GMT
EUR/GBP dives sharply today and the break of 0.7013 support confirmed down trend resumption. Intraday bias remains on the downside and current fall would now target 61.8% projection of 0.8006 to 0.7013 from 0.7388 at 0.6774. On the upside, above 0.7079 minor resistance will turn bias neutral and bring consolidations first before staging another decline.
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EUR/GBP Weekly Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jun 27 15 04:57 GMT
EUR/GBP's decline from 0.7388 extended lower last week. There is no clear sign of bottoming yet even though downside momentum is diminishing. Initial bias remains on the downside for 0.7013/54 key near term support zone. We'd be cautious on reversal fro there. On the upside, above 0.7210 minor resistance will turn bias back to the upside for 0.7388 and above. Overall, it's uncertain on whether the sideway consolidation pattern has completed yet. But in any case, we'd expect any upside attempt to be limited by 50% retracement of 0.8006 to 0.7013 at 0.7510 and downside breakout is anticipated.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jun 26 15 03:49 GMT
Further decline is still expected in EUR/GBP with 0.7210 minor resistance intact. Decisive break of 0.7013 key support will confirm down trend resumption. On the upside, above 0.7210 minor resistance will turn bias back to the upside to extend the consolidation pattern from 0.7013 with another rising leg. But in that case, strong resistance is expected at 50% retracement of 0.8006 to 0.7013 at 0.7510 to limit upside and bring reversal.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jun 25 15 05:53 GMT
A temporary low is in place in EUR/GBP and intraday bias is turned neutral first. With 0.7210 minor resistance intact, deeper fall is still expected. Decisive break of 0.7013 key support will confirm down trend resumption. On the upside, above 0.7210 minor resistance will turn bias back to the upside to extend the consolidation pattern from 0.7013 with another rising leg. But in that case, strong resistance is expected at 50% retracement of 0.8006 to 0.7013 at 0.7510 to limit upside and bring reversal.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jun 24 15 04:37 GMT
Intraday bias in EUR/GBP remains on the downside for 0.7054 support. Break will target 0.7013 key support next. Decisive break there will confirm down trend resumption. On the upside, above 0.7210 minor resistance will turn bias back to the upside to extend the consolidation pattern from 0.7013 with another rising leg. But in that case, strong resistance is expected at 50% retracement of 0.8006 to 0.7013 at 0.7510 to limit upside and bring reversal.
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