Sat, Feb 29, 2020 @ 06:41 GMT

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8462; (P) 0.8503; (R1) 0.8575; More…

Intraday bias in EUR/GBP remains on the upside as rise from 0.8282 is in progress. Such rally is seen as the third leg of the consolidation pattern from 0.8276. Strong resistance should be seen from 0.8537/8595 resistance zone to limit upside. On the downside, break of 0.9415 support turned resistance will bring retest of 0.8276 low.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8595 will argue that fall from 0.9324 has completed and bring stronger rebound.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8379; (P) 0.8410; (R1) 0.8465; More…

EUR/GBP’s rebound from 0.8282 resumed by taking out 0.8415 and reaches as high as 0.8449 so far. Intraday bias is back on the upside. Current rise is seen as the third leg of the consolidation pattern form 0.8276. Further rally would be seen to 0.8537/8595 resistance zone. On the downside, though, break of 0.8338 support will bring retest of 0.8276 low instead.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8595 will argue that fall from 0.9324 has completed and bring stronger rebound.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8338; (P) 0.8370; (R1) 0.8401; More…

Outlook in EUR/GBP is unchanged and intraday bias remains neutral first. Consolidation from 0.8276 might be in it’s third leg. On the upside, break of 0.8415 will turn bias to the upside for 0.8537/8595 resistance zone. On the downside, decisive break of 0.8276 will confirm resumption of whole fall from 0.9324.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8595 will argue that fall from 0.9324 has completed and bring stronger rebound.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8356; (P) 0.8382; (R1) 0.8419; More…

Intraday bias in EUR/GBP remains neutral first and outlook is unchanged. Consolidation form 0.8276 might be in it’s third leg. On the upside, break of 0.8415 will turn bias to the upside for 0.8537/8595 resistance zone. On the downside, decisive break of 0.8276 will confirm resumption of whole fall from 0.9324.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8595 will argue that fall from 0.9324 has completed and bring stronger rebound.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8348; (P) 0.8367; (R1) 0.8390; More…

Intraday bias in EUR/GBP is neutral for the moment. Consolidation form 0.8276 might be in it’s third leg. On the upside, break of 0.8415 will turn bias to the upside for 0.8537/8595 resistance zone. On the downside, decisive break of 0.8276 will confirm resumption of whole fall from 0.9324.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8595 will argue that fall from 0.9324 has completed and bring stronger rebound.

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EUR/GBP Weekly Outlook

EUR/GBP edged lower to 0.8282 last week but recovered ahead of 0.8276 low. A short term bottom could be formed and consolidation form 0.8276 might be in it’s third leg. On the upside, break of 0.8415 will turn bias to the upside for 0.8537/8595 resistance zone. On the downside, decisive break of 0.8276 will confirm resumption of whole fall from 0.9324.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8595 will argue that fall from 0.9324 has completed and bring stronger rebound.

In the long term picture, fall from 0.9324 is currently seen as the third leg of the whole pattern from 0.9799 (2008 high). It’s a bit early to judge how deep the decline would extend to and whether 0.6935 would be taken out. We’ll pay attention to the structure of the fall from 0.9324 and corresponding downside momentum to made an assessment later.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8349; (P) 0.8382; (R1) 0.8407; More…

EUR/GBP retreated after hitting 0.8415 and intraday bias is turned neutral first. Rise from 0.8282 might be the third leg of the consolidation pattern from 0.8276. Above 0.8415 will target 55 day EMA (now at 0.8473) and above. Nevertheless, decisive break of 0.8276 will confirm resumption of whole fall from 0.9324.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8786 will argue that fall from 0.9324 has completed and bring stronger rebound.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8317; (P) 0.8342; (R1) 0.8390; More…

EUR/GBP’s break of 0.8348 minor resistance suggests short term bottoming at 0.8282, ahead of 0.8276 low. Consolidation pattern from 0.8276 might be extending with another rising leg. Intraday bias is back on the upside for 55 day EMA (now at 0.8473). On the downside, decisive break of 0.8276 will confirm resumption of whole fall from 0.9324.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8786 will argue that fall from 0.9324 has completed and bring stronger rebound.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8274; (P) 0.8311; (R1) 0.8340; More…

Intraday bias in EUR/GBP remains on the downside with focus on 0.8276 low. Decisive break there will resume whole fall from 0.9324. Next target is 61.8% projection of 0.9019 to 0.8276 from 0.8595 at 0.8136. On the upside, above 0.8348 minor resistance will turn bias to the upside, and extend the consolidation from 0.8276 with another rising leg.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8786 will argue that fall from 0.9324 has completed and bring stronger rebound.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8313; (P) 0.8324; (R1) 0.8344; More…

Further fall is expected in EUR/GBP with 0.8386 support turned resistance intact. Decisive break of 0.8276 low will resume whole fall from 0.9324. Next target is 61.8% projection of 0.9019 to 0.8276 from 0.8595 at 0.8136. On the upside, above 0.8386 will turn bias to the upside, and extend the consolidation from 0.8276 with another rising leg.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8786 will argue that fall from 0.9324 has completed and bring stronger rebound.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8285; (P) 0.8315; (R1) 0.8330; More…

Intraday bias in EUR/GBP stays on the downside for 0.8276 low. Firm break there will confirm resumption of whole fall from 0.9324. Next target is 61.8% projection of 0.9019 to 0.8276 from 0.8595 at 0.8136. On the upside, above 0.8386 support turned resistance will turn bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8786 will argue that fall from 0.9324 has completed and bring stronger rebound.

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EUR/GBP Weekly Outlook

EUR/GBP’s sharp decline last week argues that fall from 0.9324 is ready to resume. Initial bias remains on the downside this week for 0.8276 low first. Break will confirm this bearish case and target 61.8% projection of 0.9019 to 0.8276 from 0.8595 at 0.8136. On the upside, above 0.8386 support turned resistance will turn bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8595 holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8786 will argue that fall from 0.9324 has completed and bring stronger rebound.

In the long term picture, fall from 0.9324 is currently seen as the third leg of the whole pattern from 0.9799 (2008 high). It’s a bit early to judge how fall the decline would extend to and whether 0.6935 would be taken out. We’ll pay attention to the structure of the fall from 0.9324 and corresponding downside momentum to made an assessment later.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8272; (P) 0.8336; (R1) 0.8376; More…

Intraday bias in EUR/GBP remains on the downside for 0.8276 low first. Decisive break there resume larger decline from 0.9324. Next downside target will be 61.8% projection of 0.9019 to 0.8276 from 0.8595 at 0.8136. On the upside, above 0.8339 minor resistance will turn bias neutral and bring consolidations first, before staging another fall..

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8786 support turned resistance holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8786 will argue that fall from 0.9324 has completed and turn focus back to this high.

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EUR/GBP Mid-Day Outlook

Daily Pivots: (S1) 0.8372; (P) 0.8401; (R1) 0.8421; More…

EUR/GBP’s break of 0.8386 support suggests resumption of fall from 0.8595. Intraday bias is back on the downside for 0.8276 low. Decisive break there will resume larger decline from 0.9324. Next downside target will be 61.8% projection of 0.9019 to 0.8276 from 0.8595 at 0.8136. On the upside, above 0.8400 minor resistance will turn bias neutral first.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8786 support turned resistance holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8786 will argue that fall from 0.9324 has completed and turn focus back to this high.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8372; (P) 0.8401; (R1) 0.8421; More…

Intraday bias in EUR/GBP remains neutral first and outlook is unchanged. Corrective pattern from 0.8276 is probably not completed yet. On the downside, break of 0.8386 will bring retest of 0.8276 low instead. On the upside, break of 0.8595 will target 38.2% retracement of 0.9324 to 0.8276 at 0.8676.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8786 support turned resistance holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8786 will argue that fall from 0.9324 has completed and turn focus back to this high.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8411; (P) 0.8435; (R1) 0.8450; More…

EUR/GBP is staying in range trading and intraday bias remains neutral first. Corrective pattern from 0.8276 is probably not completed yet. On the upside, break of 0.8595 will target 38.2% retracement of 0.9324 to 0.8276 at 0.8676. On the downside, break of 0.8386 will bring retest of 0.8276 low instead.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8786 support turned resistance holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8786 will argue that fall from 0.9324 has completed and turn focus back to this high.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8428; (P) 0.8466; (R1) 0.8489; More…

Intraday bias in EUR/GBP remains neutral as range trading continues. Corrective pattern from 0.8276 is probably not completed yet. On the upside, break of 0.8595 will target 38.2% retracement of 0.9324 to 0.8276 at 0.8676. On the downside, break of 0.8386 will bring retest of 0.8276 low instead.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8786 support turned resistance holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8786 will argue that fall from 0.9324 has completed and turn focus back to this high.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8472; (P) 0.8485; (R1) 0.8508; More…

Intraday bias in EUR/GBP remains neutral for the moment. Corrective pattern from 0.8276 is probably not completed yet. On the upside, break of 0.8595 will target 38.2% retracement of 0.9324 to 0.8276 at 0.8676. On the downside, break of 0.8386 will bring retest of 0.8276 low instead.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8786 support turned resistance holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8786 will argue that fall from 0.9324 has completed and turn focus back to this high.

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EUR/GBP Weekly Outlook

EUR/GBP engaged in choppy sideway trading above 0.8386 temporary low last week. Current development suggests that corrective pattern from 0.8276 is not completed yet. On the upside, break of 0.8595 will target 38.2% retracement of 0.9324 to 0.8276 at 0.8676. On the downside, break of 0.8386 will bring retest of 0.8276 low instead.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8786 support turned resistance holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8786 will argue that fall from 0.9324 has completed and turn focus back to this high.

In the long term picture, fall from 0.9324 is currently seen as the third leg of the whole pattern from 0.9799 (2008 high). It’s a bit early to judge how fall the decline would extend to and whether 0.6935 would be taken out. We’ll pay attention to the structure of the fall from 0.9324 and corresponding downside momentum to made an assessment later.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8470; (P) 0.8484; (R1) 0.8508; More…

Intraday bias in EUR/GBP remains neutral as consolidation pattern from 0.8276 is extending. Rise from 0.8386 might extend to 0.8595 resistance. Break there will target 38.2% retracement of 0.9324 to 0.8276 at 0.8676. On the downside, break of 0.8386 will bring retest of 0.8276 low instead.

In the bigger picture, decline from 0.9324 medium term top is still in progress. As long as 0.8786 support turned resistance holds, further fall is expected to 61.8% retracement of 0.6935 to 0.9324 at 0.7848. Nevertheless, break of 0.8786 will argue that fall from 0.9324 has completed and turn focus back to this high.

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