Thu, Sep 20, 2018 @ 16:21 GMT

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8859; (P) 0.8882; (R1) 0.8903; More…

With 0.8935 minor resistance intact, deeper decline is expected in EUR/GBP for 61.8% retracement of 0.8620 to 0.9097 at 0.8802. But downside could be contained there and bring rebound. On the upside, break of 0.8935 resistance will indicate short term bottoming and bring stronger rebound back towards 0.9051 resistance.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). At this point, there is no clear sign of range break out yet. And more corrective trading would continue. On the upside, in case of another rise, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8859; (P) 0.8884; (R1) 0.8900; More…

EUR/GBP’s decline from 0.9097 extends lower even though down side momentum is a bit unconvincing. As long as 0.8935 resistance holds, deeper fall is expected to 61.8% retracement of 0.8620 to 0.9097 at 0.8802. But downside could be contained there and bring rebound. On the upside, break of 0.8935 resistance will indicate short term bottoming and bring stronger rebound.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). At this point, there is no clear sign of range break out yet. And more corrective trading would continue. On the upside, in case of another rise, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8868; (P) 0.8887; (R1) 0.8897; More…

EUR/GBP breached 0.8875 to 0.8871 but quickly recovered. Intraday bias stays neutral for more consolidations. Outlook is unchanged that whole corrective rise from 0.8620 has completed at 0.9097 and deeper decline is expected. Upside of recovery should be limited well below 0.9051 resistance to bring fall resumption. On the downside, break of 0.8871 will target 61.8% retracement of 0.8620 to 0.9097 at 0.8802 and below.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). At this point, there is no clear sign of range break out yet. And more corrective trading would continue. On the upside, in case of another rise, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8878; (P) 0.8906; (R1) 0.8920; More…

Intraday bias in EUR/GBP remains neutral for consolidation above 0.8875 temporary low. Outlook is unchanged that whole corrective rise from 0.8620 has completed at 0.9097 and deeper decline is expected. Upside of recovery should be limited well below 0.9051 resistance to bring fall resumption. On the downside, break of 0.8875 will target 61.8% retracement of 0.8620 to 0.9097 at 0.8802 and below.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). At this point, there is no clear sign of range break out yet. And more corrective trading would continue. On the upside, in case of another rise, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

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EUR/GBP Weekly Outlook

EUR/GBP dropped further to as low as 0.8875 last week but formed a temporary low there and turned sideway. Initial bias is neutral this week for consolidation first. In case of stronger recovery, upside should be limited well below 0.9051 resistance to bring another decline. As noted before, whole corrective rise from 0.8620 could have finished at 0.9097 already. Break of 0.8875 will target 61.8% retracement of 0.8620 to 0.9097 at 0.8802 and below.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). At this point, there is no clear sign of range break out yet. And more corrective trading would continue. On the upside, in case of another rise, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

In the long term picture, we’re holding on to the view that rise from 0.6935 (2015 low) is resuming the up trend from 0.5680 (2000 low). Hence, after the consolidation from 0.9304 completes, we’d expect another medium term up trend through 0.9799 to 100% projection of 0.5680 to 0.9799 from 0.6935 at 1.1054.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8898; (P) 0.8914; (R1) 0.8937; More…

Intraday bias in EUR/GBP remains neutral at this point. Consolidation from 0.8875 temporary low could extend. But upside should be limited well below 0.9051 resistance to bring another decline. As noted before, whole corrective rise from 0.8620 could have finished at 0.9097 already. Below 0.8875 will target 61.8% retracement of 0.8620 to 0.9097 at 0.8802 and below.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). At this point, there is no clear sign of range break out yet. And more corrective trading would continue. On the upside, in case of another rise, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8885; (P) 0.8913; (R1) 0.8937; More…

Intraday bias in EUR/GBP is turned neutral as the consolidation from 0.8875 temporary might extend further. But upside of recovery should be limited well below 0.9051 resistance to bring another decline. As noted before, whole corrective rise from 0.8620 could have finished at 0.9097 already. Below 0.8875 will target 61.8% retracement of 0.8620 to 0.9097 at 0.8802 and below.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). At this point, there is no clear sign of range break out yet. And more corrective trading would continue. On the upside, in case of another rise, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8885; (P) 0.8907; (R1) 0.8926; More…

With 0.8956 minor resistance intact, intraday bias in EUR/GBP stays mildly on the downside despite diminishing downside momentum. As noted before, corrective rise from 0.8620 could have completed at 0.9097 already. Current fall should target 61.8% retracement at 0.8802 and below. On the upside, above 0.8956 minor resistance will turn intraday bias neutral first. But outlook will remain cautiously bearish as long as 0.9051 resistance holds.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). At this point, there is no clear sign of range break out yet. And more corrective trading would continue. On the upside, in case of another rise, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8877; (P) 0.8918; (R1) 0.8942; More…

EUR/GBP drops to as low as 0.8889 so far and intraday bias stays on the downside. As noted before, corrective rise from 0.8620 could have completed at 0.9097 already. Break of 38.2% retracement of 0.8620 to 0.9097 at 0.8915 affirms our bearish view. Deeper decline should now be seen to 61.8% retracement at 0.8802 and below. On the upside, above 0.8956 minor resistance will turn intraday bias neutral first. But outlook will remain cautiously bearish as long as 0.9051 resistance holds.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). At this point, there is no clear sign of range break out yet. And more corrective trading would continue. On the upside, in case of another rise, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8902; (P) 0.8956; (R1) 0.8997; More…

Intraday bias in EUR/GBP remains on the downside at this point. A short term top was formed at 0.9097, and the corrective rise from 0.8620 could have completed too. Firm break of 38.2% retracement of 0.8620 to 0.9097 at 0.8915 will affirm our bearish view and target 61.8% retracement at 0.8802 and below. On the upside, though, above 0.9005 minor resistance will turn focus back to 0.9097 high instead.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). At this point, there is no clear sign of range break out yet. And more corrective trading would continue. On the upside, in case of another rise, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

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EUR/GBP Weekly Outlook

EUR/GBP’s strong break of near term channel support last week suggests short term topping at 0.9097. More importantly, the choppy corrective structure of the rise from 0.8620 argues that it’s a correction that’s completed. Initial bias remains on the downside this week with focus on 38.2% retracement of 0.8620 to 0.9097 at 0.8915. Firm break there will affirm our bearish view and target 61.8% retracement at 0.8802 and below. On the upside, though, above 0.9005 minor resistance will turn focus back to 0.9097 high instead.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). At this point, there is no clear sign of range break out yet. And more corrective trading would continue. On the upside, in case of another rise, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

In the long term picture, we’re holding on to the view that rise from 0.6935 (2015 low) is resuming the up trend from 0.5680 (2000 low). Hence, after the consolidation from 0.9304 completes, we’d expect another medium term up trend through 0.9799 to 100% projection of 0.5680 to 0.9799 from 0.6935 at 1.1054.

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EUR/GBP Mid-Day Outlook

Daily Pivots: (S1) 0.8972; (P) 0.8997; (R1) 0.9018; More…

EUR/GBP’s sharp fall, break of channel support and 0.8937 suggests short term topping at 0.9097. More importantly, considering the choppy corrective structure, whole rise from 0.8620 might be finished too. Intraday bias is now on the downside with focus on 38.2% retracement of 0.8620 to 0.9097 at 0.8915. Firm break there will affirm our bearish view and target 61.8% retracement at 0.8802 and below. On the upside, though, above 0.9005 minor resistance will turn focus back to 0.9097 high instead.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). The corrective structure of the fall from 0.9305 to 0.8620 is raising the chance that rise from 0.8312 to 0.9305 is an impulsive move. But we’re not too confident on it yet. In any case, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8972; (P) 0.8997; (R1) 0.9018; More…

Intraday bias in EUR/GBP remains neutral at this point. The cross is staying inside near term rising channel. Thus, outlook remains bullish for another rise. On the upside, above 0.9051 will target 0.9097 first. Break will resume the rally from 0.8620. However, break of 0.8937 support should have near term channel support firmly taken out. And that will indicate completion of rise from 0.8620 and turn outlook bearish.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). The corrective structure of the fall from 0.9305 to 0.8620 is raising the chance that rise from 0.8312 to 0.9305 is an impulsive move. But we’re not too confident on it yet. In any case, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8959; (P) 0.9007; (R1) 0.9057; More…

Much volatility is seen in EUR/GBP after the cross hit 0.9051. Intraday bias is turned neutral first. And, after all, it’s staying inside near term rising channel. Thus, outlook stay bullish for another rise. On the upside, above 0.9051 will target 0.9097 first. Break will resume the rally from 0.8620. However, break of 0.8937 support should have near term channel support firmly taken out. And that will indicate completion of rise from 0.8620 and turn outlook bearish.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). The corrective structure of the fall from 0.9305 to 0.8620 is raising the chance that rise from 0.8312 to 0.9305 is an impulsive move. But we’re not too confident on it yet. In any case, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8982; (P) 0.9009; (R1) 0.9051; More…

Outlook in EUR/GBP remains bullish as it’s staying in near term rising channel. Intraday bias also remains on the upside for retesting 0.9097 resistance first. Break there will resume larger rally from 0.8620 towards 0.9305 high. On the downside, however, break of 0.8937 support should have near term channel support firmly taken out. And that will indicate completion of rise from 0.8620 and turn outlook bearish.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). The corrective structure of the fall from 0.9305 to 0.8620 is raising the chance that rise from 0.8312 to 0.9305 is an impulsive move. But we’re not too confident on it yet. In any case, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8982; (P) 0.9009; (R1) 0.9051; More…

Intraday bias in EUR/GBP remains on the upside for retesting 0.9097 resistance. Break there will resume larger rally from 0.8620 towards 0.9305 high. On the downside, however, break of 0.8937 support should have near term channel support firmly taken out. And that will indicate completion of rise from 0.8620 and turn outlook bearish.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). The corrective structure of the fall from 0.9305 to 0.8620 is raising the chance that rise from 0.8312 to 0.9305 is an impulsive move. But we’re not too confident on it yet. In any case, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8932; (P) 0.8960; (R1) 0.8985; More…

EUR/GBP’s breach of 0.8992 minor resistance suggests that pull back from 0.9097 has completed at 0.8937, after drawing support from near term rising channel. Intraday bias is turned back to the upside for retesting 0.9097 first. Break will extend the larger rally from 0.8620 towards 0.9305 high. Over all, outlook will remain bullish as long as 0.8895 support holds. However, sustained break of channel support, followed by break of 0.8895, will argue that whole rise from 0.8620 has completed. And consider that it’s not clearly impulsive in structure, break of 0.8895 will also suggest reversal and turn outlook bearish.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). The corrective structure of the fall from 0.9305 to 0.8620 is raising the chance that rise from 0.8312 to 0.9305 is an impulsive move. But we’re not too confident on it yet. In any case, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

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EUR/GBP Weekly Outlook

EUR/GBP edged higher to 0.9097 last week but reversed and dropped sharply since then. For now, the cross is still held in near term rising channel and thus there is no indication of reversal yet. On the upside, above 0.8992 minor resistance will turn bias back to the upside for retesting 0.9097 first. However, sustained break of channel support, followed by break of 0.8895, will argue that whole rise from 0.8620 has completed. And consider that it’s not clearly impulsive in structure, break of 0.8895 will also suggest reversal and turn outlook bearish.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). The corrective structure of the fall from 0.9305 to 0.8620 is raising the chance that rise from 0.8312 to 0.9305 is an impulsive move. But we’re not too confident on it yet. In any case, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

In the long term picture, we’re holding on to the view that rise from 0.6935 (2015 low) is resuming the up trend from 0.5680 (2000 low). Hence, after the consolidation from 0.9304 completes, we’d expect another medium term up trend through 0.9799 to 100% projection of 0.5680 to 0.9799 from 0.6935 at 1.1054.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8948; (P) 0.8972; (R1) 0.8989; More…

While the fall from 0.9097 is steep, EUR/GBP is staying in rising channel and well above 0.8895 support. Hence, there is no indicate of trend reversal yet. Larger rally from 0.8620 is still expected to extend higher. Break of 0.9097 will target a test on 0.9305 high. Though, sustained break of channel support will be the first sign of reversal, and focus will be turned back to 0.8895 for confirmation.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). The corrective structure of the fall from 0.9305 to 0.8620 is raising the chance that rise from 0.8312 to 0.9305 is an impulsive move. But we’re not too confident on it yet. In any case, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8948; (P) 0.9021; (R1) 0.9058; More…

EUR/GBP’s rejection from 0.9097 was rather strong and it drops sharply to as low as 0.8971. For now, deeper pull back could be seen. But the cross is staying inside rising channel and well above 0.8895 support. Larger rally from 0.8620 is still expected to extend higher. Break of 0.9097 will target a test on 0.9305 high. Though, sustained break of channel support will be the first sign of reversal, and focus will be turned back to 0.8895 for confirmation.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). The corrective structure of the fall from 0.9305 to 0.8620 is raising the chance that rise from 0.8312 to 0.9305 is an impulsive move. But we’re not too confident on it yet. In any case, we’d stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

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