Mon, May 16, 2022 @ 08:18 GMT

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8476; (P) 0.8502; (R1) 0.8515; More…

Intraday bias in EUR/GBP remains neutral for the moment. Rise from 0.8201 is still in favor to continue as long as 0.8365 support holds. On the upside, break of 0.8617 will resume such rise to 0.8697 medium term fibonacci level. However, break of 0.8365 will dampen this bullish view, and turn bias back to the downside instead.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

EUR/GBP Weekly Outlook

EUR/GBP edged higher to 0.8617 last week but retreated since then. Initial bias remains neutral this week first. Rise from 0.8201 is still in favor to continue as long as 0.8365 support holds. On the upside, break of 0.8617 will resume such rise to 0.8697 medium term fibonacci level. However, break of 0.8365 will dampen this bullish view, and turn bias back to the downside instead.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

In the long term picture, current development argues that fall from 0.9499 is probably the third leg of the pattern from 0.9799 (2008 high). Sustained break of 61.8% retracement of 0.6935 to 0.9499 at 0.7917 will pave the way back to 0.6935 (2015 low) and probably below. However, sustained trading above 55 month EMA (now at 0.8604) will dampen this bearish view and bring stronger rebound.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8463; (P) 0.8541; (R1) 0.8589; More…

Intraday bias in EUR/GBP stays mildly on the downside for pull back to 0.8465 support turned resistance. But overall, rise from 0.8201 is still in favor to continue as long as 0.8365 support holds. Break of 0.8617 will resume such rise to 0.8697 medium term fibonacci level.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

EUR/GBP Mid-Day Outlook

Daily Pivots: (S1) 0.8542; (P) 0.8568; (R1) 0.8611; More…

A short term top could be in place at 0.8617 with current retreat. Intraday bias is mildly on the downside for deeper pull back to 0.8465 support turned resistance. But overall, rise from 0.8201 is still in favor to continue as long as 0.8365 support holds. Break of 0.8617 will resume such rise to 0.8697 medium term fibonacci level.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8542; (P) 0.8568; (R1) 0.8611; More…

EUR/GBP’s rally resumed after brief consolidation and intraday bias is back on the upside. Further rally should be seen to 0.8697 medium term fibonacci level next. On the downside, break of 0.8514 support is needed to signal short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8529; (P) 0.8554; (R1) 0.8573; More…

Intraday bias in EUR/GBP remains neutral for consolidation below 0.8590 temporary top. Outlook will stay bullish as long as 0.8465 resistance turned support holds. On the upside, break of 0.8590 will resume the rise from 0.8210 medium term bottom to 0.8697 medium term fibonacci level next.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8531; (P) 0.8551; (R1) 0.8586; More…

EUR/GBP lost momentum after hitting 0.8590 and intraday bias is turn neutral first. Some consolidations would be seen but outlook will stay bullish as long as 0.8465 resistance turned support holds. On the upside, break of 0.8590 will resume the rise from 0.8210 medium term bottom to 0.8697 medium term fibonacci level next.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8507; (P) 0.8550; (R1) 0.8589; More…

Intraday bias in EUR/GBP remains on the upside for the moment. Current rally should now target 0.8697 medium term fibonacci level next. On the downside, below 0.8500 minor support will turn intraday bias neutral first. But outlook will stays bullish as long as 0.8465 resistance turned support holds.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

EUR/GBP Weekly Outlook

EUR/GBP’s rebound from 09201 resumed by breaking through 0.8511 resistance last week. The development affirms the case that 0.8201 is a medium term bottom. Initial bias stays on the upside this week. Further rally would be seen to 0.8697 medium term fibonacci level next. On the downside, below 0.8500 minor support will turn intraday bias neutral first. But further rally will remain in favor as long as 0.8465 resistance turned support holds.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

In the long term picture, current development argues that fall from 0.9499 is probably the third leg of the pattern from 0.9799 (2008 high). Sustained break of 61.8% retracement of 0.6935 to 0.9499 at 0.7917 will pave the way back to 0.6935 (2015 low) and probably below. However, sustained trading above 55 month EMA (now at 0.8606) will dampen this bearish view and bring stronger rebound.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8443; (P) 0.8494; (R1) 0.8582; More…

Intraday bias in EUR/GBP remains on the upside for the moment. Current development reaffirms that 0.8201 is a medium term bottom. Further rally should be seen to 0.8697 medium term fibonacci level next. For now, outlook will stay cautiously bullish as long as 0.8365 support holds, in case of retreat.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

EUR/GBP Mid-Day Outlook

Daily Pivots: (S1) 0.8386; (P) 0.8418; (R1) 0.8440; More…

EUR/GBP’s rally resumes and hits as high as 0.8544 so far. The break of 0.8511 resistance reaffirm that 0.8201 is a medium term bottom. Intraday bias is back on the upside for 0.8697 medium term fibonacci level next. For now, outlook will stay cautiously bullish as long as 0.8365 support holds, in case of retreat.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8386; (P) 0.8418; (R1) 0.8440; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the upside, above 0.8465 will turn focus back to 0.8511 resistance intact. Further break of 0.8511 will reaffirm that 0.8201 is a medium term bottom, and target 0.8697 medium term fibonacci level next. On the downside, below 0.8365 will bring deeper pull back.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8385; (P) 0.8408; (R1) 0.8444; More…

Range trading continues in EUR/GBP and intraday bias remains neutral at this point. On the upside, above 0.8465 will turn focus back to 0.8511 resistance intact. Further break of 0.8511 will reaffirm that 0.8201 is a medium term bottom, and target 0.8697 medium term fibonacci level next. On the downside, below 0.8365 will bring deeper pull back.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8379; (P) 0.8398; (R1) 0.8429; More…

Intraday bias in EUR/GBP is turned neutral again as EUR/GBP recovered after dipping to 0.8365. On the upside, above 0.8465 will turn focus back to 0.8511 resistance intact. Further break of 0.8511 will reaffirm that 0.8201 is a medium term bottom, and target 0.8697 medium term fibonacci level next. On the downside, below 0.8365 will bring deeper pull back.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8367; (P) 0.8400; (R1) 0.8419; More…

Break of 0.8380 minor support argue that rebound from 0.8248 has completed at 0.8456 already. Intraday bias is back on the downside for 0.8248 support. On the upside, above 0.8465 will turn focus back to 0.8511 resistance intact. Further break of 0.8511 will reaffirm that 0.8201 is a medium term bottom, and target 0.8697 medium term fibonacci level next.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

EUR/GBP Weekly Outlook

EUR/GBP retreated after hitting 0.8465 last week. Initial bias is neutral this week first. On the upside, above 0.8465 will target 0.8511 resistance. Further break of 0.8511 will reaffirm that 0.8201 is a medium term bottom, and target 0.8697 medium term fibonacci level next. However, on the downside, break of 0.8380 minor support will turn bias back to the downside for 0.8248 support instead.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

In the long term picture, current development argues that fall from 0.9499 is probably the third leg of the pattern from 0.9799 (2008 high). Sustained break of 61.8% retracement of 0.6935 to 0.9499 at 0.7917 will pave the way back to 0.6935 (2015 low) and probably below.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8385; (P) 0.8423; (R1) 0.8462; More…

Intraday bias in EUR/GBP remains neutral at this point. On the upside, above 0.8465 will target 0.8511 resistance first. Further break of 0.8511 will reaffirm that 0.8201 is a medium term bottom, and target 0.8697 medium term fibonacci level next. However, break of 0.8380 minor support will turn bias back to the downside for 0.8248 support instead.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8382; (P) 0.8424; (R1) 0.8460; More…

A temporary top is formed at 0.8465 and intraday bias is turned neutral first. On the upside, above 0.8465 will target 0.8511 resistance first. Further break of 0.8511 will reaffirm that 0.8201 is a medium term bottom, and target 0.8697 medium term fibonacci level next.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8414; (P) 0.8439; (R1) 0.8484; More…

EUR/GBP’s rise from 0.8248 resumes after brief retreat and intraday bias is back on the upside. Current rally should target 0.8511 resistance first. Further break of 0.8511 will reaffirm that 0.8201 is a medium term bottom, and target 0.8697 medium term fibonacci level next. On the downside, below 0.8391 minor support will mix up the outlook and turn bias neutral again.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8388; (P) 0.8415; (R1) 0.8432; More…

Intraday bias in EUR/GBP is turned neutral with a temporary top formed at 0.8440. Another rise will remain mildly in favor with 0.8307 minor support intact. Above 0.8440 will target 0.8511 resistance. Further break of 0.8511 will reaffirm that 0.8201 is a medium term bottom, and target 0.8697 medium term fibonacci level next. On the downside, below 0.8307 will turn bias back to the downside for 0.8248 support instead.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.