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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 28 14 09:19 GMT
Intraday bias in EUR/GBP remains neutral for the moment. Considering bullish convergence condition in 4 hours MACD and daily MACD, break of 0.7980 resistance will firstly confirm short term bottoming. Secondly, the larger down trend could have reversed too. In such case, near term outlook will be turned bullish for a test on 0.8157 key support turned resistance. Meanwhile, below 0.7873 will extend the larger down trend to 168.1% projection of 0.8584 to 0.8157 from 0.8399 at 0.7708, which is close to key long term support level of 0.7693.
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EUR/GBP Weekly Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jul 26 14 08:20 GMT
EUR/GBP edged lower to 0.7873 last week but recovered on loss of momentum, with bullish convergence condition in 4 hours and daily MACD. Initial bias is turned neutral this week first. Break of 0.7980 resistance will firstly confirm short term bottoming. Secondly, the larger down trend could have reversed too. In such case, near term outlook will be turned bullish for a test on 0.8157 key support turned resistance. Meanwhile, below 0.7873 will extend the larger down trend to 168.1% projection of 0.8584 to 0.8157 from 0.8399 at 0.7708, which is close to key long term support level of 0.7693.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jul 25 14 07:57 GMT
The breach of 0.7933 minor resistance is taken as the first sign of reversal on bullish convergence condition in 4 hours and daily MACD. Intraday bias is turned back to the upside for 0.7980 resistance. Break will confirm this case and should bring stronger rebound back to 0.8157 key resistance next. Meanwhile, below 0.7873 will dampen this bullish case and turn bias back to the downside for 168.1% projection of 0.8584 to 0.8157 from 0.8399 at 0.7708 next, which is close to key long term support level of 0.7693.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jul 24 14 04:00 GMT
With 0.7933 minor resistance intact, deeper fall is expected in EUR/GBP. Current decline would extend towards 168.1% projection of 0.8584 to 0.8157 from 0.8399 at 0.7708 next, which is close to key long term support level of 0.7693. Note bullish convergence condition in 4 hours and daily MACD, we'd possibly see further loss of momentum ahead of 0.7693 and reverse. On the upside, above 0.7933 will turn bias back to the upside. Break of 0.7980 will indicate near term reversal and turn outlook bullish.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jul 23 14 06:08 GMT
The break of 0.7888 indicates resumption of recent down trend in EUR/GBP. Intraday bias is back on the downside. Current fall would extend towards 168.1% projection of 0.8584 to 0.8157 from 0.8399 at 0.7708 next, which is close to key long term support level of 0.7693. Note bullish convergence condition in 4 hours and daily MACD, we'd possibly seen further loss of momentum ahead of 0.7693 and reverse. On the upside, above 0.7933 will turn bias back to the upside. Break of 0.7980 will indicate near term reversal and turn outlook bullish.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jul 22 14 06:27 GMT
Intraday bias in EUR/GBP remains neutral for the moment and consolidation from 0.7888 could extend. With 0.7980 minor resistance intact, deeper fall could be seen and below 0.7888 would target 168.1% projection of 0.8584 to 0.8157 from 0.8399 at 0.7708 next, which is close to key long term support level of 0.7693. Note bullish convergence condition in 4 hours and daily MACD, we'd possibly seen further loss of momentum ahead of 0.7693 and reverse. Meanwhile, above 0.7980 will indicate reversal and target 0.8033 resistance and above.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jul 21 14 07:48 GMT
Intraday bias in EUR/GBP remains neutral for the moment and consolidation from 0.7888 could extend. With 0.7980 minor resistance intact, deeper fall could be seen and below 0.7888 would target 168.1% projection of 0.8584 to 0.8157 from 0.8399 at 0.7708 next, which is close to key long term support level of 0.7693. Note bullish convergence condition in 4 hours and daily MACD, we'd possibly seen further loss of momentum ahead of 0.7693 and reverse. Meanwhile, above 0.7980 will indicate reversal and target 0.8033 resistance and above.
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EUR/GBP Weekly Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jul 19 14 09:31 GMT
EUR/GBP dropped further to as low as as recent decline extended but formed a temporary low there and recovered. Initial bias is neutral this week first. With 0.7980 minor resistance intact, deeper fall could be seen and below 0.7888 would target 168.1% projection of 0.8584 to 0.8157 from 0.8399 at 0.7708 next, which is close to key long term support level of 0.7693. Not bullish convergence condition in 4 hours and daily MACD, we'd possibly seen further loss of momentum ahead of 0.7693 and reverse. Meanwhile, above 0.7980 will indicate reversal and target 0.8033 resistance and above.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jul 18 14 08:10 GMT
EUR/GBP lost some downside momentum but with 0.7980 resistance intact, near term outlook stays bearish. Deeper decline is still expected to be seen to 168.1% projection of 0.8584 to 0.8157 from 0.8399 at 0.7708 next, which is close to key long term support level of 0.7693.
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EUR/GBP Daily Outlook Print E-mail
EURGBP Outlook | Written by ActionForex.com | Jul 17 14 07:45 GMT
Intraday bias in EUR/GBP remains on the downside as the larger decline continues. Further fall should be seen to 168.1% projection of 0.8584 to 0.8157 from 0.8399 at 0.7708 next, which is close to key long term support level of 0.7693. On the upside, break of 0.7980 resistance is needed to indicate short term bottoming. Otherwise, outlook will stays bearish in case of recovery.
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