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Action Insight: EURGBP Technical Outlook

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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jan 17 17 09:49 GMT
No change in EUR/GBP's outlook. With 0.8646 support intact, rebound from 0.8303 is expected to target 61.8% retracement of 0.9304 to 0.8303 at 0.8922 and above. Such rebound is seen as the second leg of the consolidation pattern from 0.9304. Hence, we'll be cautious on topping above 0.8922. On the downside, though, break of 0.8646 minor support is needed to indicate completion of the rise. Otherwise, near term outlook will stay cautiously bullish in case of retreat.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jan 16 17 08:18 GMT
EUR/GBP's rebound form 0.8303 extends today and intraday bias stays on the upside for 61.8% retracement of 0.9304 to 0.8303 at 0.8922 and above. Such rebound is seen as the second leg of the consolidation pattern from 0.9304. Hence, we'll be cautious on topping above 0.8922. On the downside, though, break of 0.8646 minor support is needed to indicate completion of the rise. Otherwise, near term outlook will stay cautiously bullish in case of retreat.
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EUR/GBP Weekly Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jan 14 17 04:44 GMT
EUR/GBP's rebound from 0.8303 resumed last week and reached as high as 0.8766. The development suggests that fall from 0.9304 is completed at 0.8303. Rise from there is seen as the second leg of the consolidation pattern. Initial bias stays on the upside for 61.8% retracement of 0.9304 to 0.8303 at 0.8922 and above. On the downside, below 0.8646 minor support will turn bias neutral first. Break of 0.8449 support will start the third leg of the corrective pattern to 0.8303 and below.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jan 13 17 07:01 GMT
Intraday bias in EUR./GBP stays neutral for the moment. Another rise is expected as long as 0.8449 minor support holds. Rebound from 0.8303 is seen as the second leg of the consolidation pattern from 0.9304. Above 0.8764 will target 61.8% retracement of 0.9304 to 0.8303 at 0.8922 and above. We'll expect strong resistance above 0.8922 to limit upside and bring another fall. On the downside, below 0.8449 will turn bias to the downside for retesting 0.8303 first. Break there will extend the whole fall from 0.9304. In that case, we'll look for bottoming signal again at around 0.8116.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jan 12 17 05:14 GMT
Intraday bias in EUR./GBP stays neutral for the moment. Another rise is expected as long as 0.8449 holds. Rebound from 0.8303 is seen as the second leg of the consolidation pattern from 0.9304. Above 0.8764 will target 61.8% retracement of 0.9304 to 0.8303 at 0.8922 and above. We'll expect strong resistance above 0.8922 to limit upside and bring another fall. On the downside, below 0.8449 will turn bias to the downside for retesting 0.8303 first. Break there will extend the whole fall from 0.9304. In that case, we'll look for bottoming signal again at around 0.8116.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jan 11 17 07:03 GMT
A temporary top is in place at 0.8764 as EUR/GBP lost momentum. Intraday bias is turned neutral first but another rise is expected as long as 0.8449 holds. Rise from 0.8303 is seen as the second leg of the consolidation pattern from 0.9304. Above 0.8764 will target 61.8% retracement of 0.9304 to 0.8303 at 0.8922 and above. We'll expect strong resistance above 0.8922 to limit upside and bring another fall. On the downside, below 0.8449 will turn bias to the downside for retesting 0.8303 first. Break there will extend the whole fall from 0.9304. In that case, we'll look for bottoming signal again at around 0.8116.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jan 10 17 03:17 GMT
EUR/GBP's break of 0.8666 confirms resumption of rebound form 0.8303. And the break of 38.2% retracement of 0.9304 to 0.8303 at 0.8685 revived the case of near term reversal. That is, corrective fall from 0.9304 could be finished at 0.8303 already. Intraday bias is back on the upside for 61.8% retracement at 0.8922 and above. At this point, we're not expecting up trend resumption yet. Thus, we'll expect strong resistance above 0.8922 to limit upside and bring another fall. On the downside, below 0.8449 will turn bias to the downside for retesting 0.8303 first. Break there will extend the whole fall from 0.9304. In that case, we'll look for bottoming signal again at around 0.8116.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jan 09 17 07:41 GMT
EUR/GBP rises strongly today but stays below 0.8666 resistance. Intraday bias remains neutral first. On the upside, sustained break of 38.2% retracement of 0.9304 to 0.8303 at 0.8685 will revive the case of near term reversal and bring further rise to 61.8% retracement at 0.8922 and above. On the downside, below 0.8449 will turn bias to the downside for retesting 0.8303 first. Break there will extend the whole fall from 0.9304. In that case, we'll look for bottoming signal again at around 0.8116.
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EUR/GBP Weekly Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jan 07 17 07:28 GMT
EUR/GBP dipped to 0.8449 last week but recovered since then. Initial bias is neutral this week first. Overall, the cross is bounded in a corrective pattern that started at 0.8303. Below 0.8449 will turn bias to the downside for retesting 0.8303 first. Break there will extend the whole fall from 0.9304. In that case, we'll look for bottoming signal again at around 0.8116. On the upside, sustained break of 38.2% retracement of 0.9304 to 0.8303 at 0.8685 will revive the case of near term reverse and bring further rise to 61.8% retracement at 0.8922 and above.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jan 06 17 06:39 GMT
Intraday bias in EUR/GBP remains neutral for the moment. On the downside, below 0.8449 will target 0.8303 and break will resume the whole fall from 0.9304. In that case, we'd look for bottoming again at around 0.8116. Meanwhile, sustained break of 38.2% retracement of 0.9304 to 0.8303 at 0.8685 will revive the case of near term reversal. In that case, stronger rise should be seen to 61.8% retracement at 0.8922 and above.
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