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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 | May 28 16 10:06 GMT
EUR/GBP's fall from 0.8116 extended lower last week and there is no clear sign of completion yet. Outlook will stay bearish as long as 0.7753 resistance holds. Break of 0.7564 temporary low will target 61.8% retracement of 0.6981 to 0.8116 at 0.7415 next. Nonetheless, considering bullish convergence condition in 4 hours MACD, break of 0.7753 will suggest near term reversal and turn bias to the upside for 0.7946 resistance.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | May 26 16 09:29 GMT
Intraday bias in EUR/GBP remains on the downside as fall from 0.8116 is still in progress. The deeper than expected fall dampened the larger bullish view. Further decline would now be seen back to 61.8% retracement of 0.6981 to 0.8116 at 0.7415. Break of 0.7753 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | May 25 16 07:50 GMT
EUR/GBP's fall from 0.8116 resumed after brief recovery and intraday bias is back on the downside. The deeper than expected fall dampened the larger bullish view. Further decline would now be seen back to 61.8% retracement of 0.6981 to 0.8116 at 0.7415. Break of 0.7753 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | May 24 16 03:47 GMT
We're slightly favoring the case that EUR/GBP has bottomed at 0.7648 after drawing support from 0.7651. Intraday bias in mildly on the upside for 0.7946 resistance first. Break will confirm that the corrective pull back fro 0.8116 has completed and bring retest of this high. However, sustained trading below 0.7651 will carry larger bearish indication and target 61.8% retracement of 0.6981 to 0.8116 at 0.7415.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | May 23 16 03:37 GMT
A temporary low is in place at 0.7648 in EUR/GBP. As noted before, we're looking for strong support from 0.7651 to bring rebound. Intraday bias is turned back to the upside for 0.7946 resistance first. Break will confirm that the corrective pull back fro 0.8116 has completed and bring retest of this high. However, sustained trading below 0.7651 will carry larger bearish indication and target 61.8% retracement of 0.6981 to 0.8116 at 0.7415.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | May 20 16 04:12 GMT
EUR/GBP's fall from 0.8116 extends lower today and breaches 0.7651 support. At this point, we'll continue to look for strong support from 0.7651 to bring rebound. Above 0.7722 minor resistance will turn bias back to the upside and target 0.7946 resistance. However, sustained trading below 0.7651 will carry larger bearish indication and target 61.8% retracement of 0.6981 to 0.8116 at 0.7415.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | May 18 16 08:13 GMT
Intraday bias in EUR/GBP remains on the downside for the moment. Fall from 0.8116 might be resuming. Break of 0.7734 will target 38.2 retracement of 0.6981 to 0.8116 at 0.7682. At this point, price actions from 0.8116 are seen as a corrective move. We'd expect strong support above 0.7651 to contain downside and bring rebound.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | May 17 16 07:52 GMT
The break of 0.7820 minor support suggests that rebound from 0.7734 is completed and fall from 0.8816 is resuming. Intraday bias is back on the downside for 0.7734 support first. Break there will target 38.2 retracement of 0.6981 to 0.8116 at 0.7682. At this point, price actions from 0.8116 are seen as a corrective move. We'd expect strong support above 0.7651 to contain downside and bring rebound.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | May 16 16 08:34 GMT
Intraday bias in EUR/GBP remains neutral for the moment. Above 0.7946 will send the cross through 61.8% retracement of 0.8116 to 0.7734 at 0.7979. We'll be cautious on strong resistance below 0.8116 to bring another fall to extend the consolidation pattern from there. Below 0.7820 minor support will bring another fall. But we'd expect strong support from 38.2 retracement of 0.6981 to 0.8116 at 0.7682 to contain downside and bring rebound.
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EUR/GBP Weekly Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | May 14 16 12:47 GMT
EUR/GBP's strong rise last week suggests that pull back from 0.8116 has completed at 0.7734 already. With a temporary top at 0.7946, initial bias is neutral this week first. Above 0.7946 will send the cross through 61.8% retracement of 0.8116 to 0.7734 at 0.7979. We'll be cautious on strong resistance below 0.8116 to bring another fall to extend the consolidation pattern from there. Below 0.7820 minor support will bring another fall. But we'd expect strong support from 38.2 retracement of 0.6981 to 0.8116 at 0.7682 to contain downside and bring rebound.
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