Sat, May 30, 2020 @ 14:41 GMT

EUR/GBP Weekly Outlook

EUR/GBP stayed in consolidation from 0.8672 last week and outlook is unchanged. Initial bias remains neutral this week for more sideway trading. On the upside, break of 0.8863 will confirm short term bottoming at 0.8670. Further rise should be seen to 38.2% retracement of 0.9499 to 0.8670 at 0.8987. On the downside, however, break of 0.8670 will resume the fall from 0.9499 to 0.8276/82 key support zone.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The up trend from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.

In the long term picture, rise from 0.6935 (2015 low) is still in progress. It could be resuming long term up trend from 0.5680 (2000 low). Decisive break of 0.9799 will target 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) 0.8718; (P) 0.8754; (R1) 0.8799; More…

Consolidation from 0.8670 is extending and intraday bias remains neutral first. On the upside, break of 0.8863 will confirm short term bottoming at 0.8670. Further rise should be seen to 38.2% retracement of 0.9499 to 0.8670 at 0.8987. On the downside, however, break of 0.8670 will resume the fall from 0.9499 to 0.8276/82 key support zone.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The up trend from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8714; (P) 0.8735; (R1) 0.8772; More…

Intraday bias in EUR/GBP remains neutral at this point. On the upside, break of 0.8863 will confirm short term bottoming at 0.8670. Further rise should be seen to 38.2% retracement of 0.9499 to 0.8670 at 0.8987. On the downside, however, break of 0.8670 will resume the fall from 0.9499 to 0.8276/82 key support zone.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The up trend from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8681; (P) 0.8723; (R1) 0.8755; More…

EUR/GBP is staying in consolidation from 0.8670 and intraday bias remains neutral. On the upside, break of 0.8863 will confirm short term bottoming at 0.8670. Further rise should be seen to 38.2% retracement of 0.9499 to 0.8670 at 0.8987. On the downside, however, break of 0.8670 will resume the fall from 0.9499 to 0.8276/82 key support zone.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The up trend from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8739; (P) 0.8776; (R1) 0.8798; More…

Intraday bias in EUR/GBP stays neutral first. On the upside, break of 0.8863 will confirm short term bottoming at 0.8670. Further rise should be seen to 38.2% retracement of 0.9499 to 0.8670 at 0.8987. On the downside, however, break of 0.8670 will resume the fall from 0.9499 to 0.8276/82 key support zone.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The up trend from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8722; (P) 0.8759; (R1) 0.8826; More…

Intraday bias in EUR/GBP remains neutral for the moment. Break of 0.8863 will confirm short term bottoming at 0.8670. Further rise should be seen to 38.2% retracement of 0.9499 to 0.8670 at 0.8987. On the downside, however, break of 0.8670 will resume the fall from 0.9499 to 0.8276/82 key support zone.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The up trend from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.

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EUR/GBP Weekly Outlook

EUIR/GBP edged lower to 0.8670 last week but quickly recovered. Initial bias remains neutral first. Considering bullish convergence condition in 4 hour MACD, a short term bottom might be formed after failing to sustain below 55 day and 55 week EMAs. Focus is back on 0.8863 resistance this week. Break will confirm and turn bias to the upside for 38.2% retracement of 0.9499 to 0.8670 at 0.8987. On the downside, however, break of 0.8670 will resume the fall from 0.9499 to 0.8276/82 key support zone.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The up trend from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.

In the long term picture, rise from 0.6935 (2015 low) is still in progress. It could be resuming long term up trend from 0.5680 (2000 low). Decisive break of 0.9799 will target 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) 0.8667; (P) 0.8705; (R1) 0.8739; More…

EUR/GBP recovered quickly after edging lower to 0.8670 and intraday bias is turned neutral first. Further decline is expected as long as 0.8863 resistance holds. Below 0.8670 will resume the decline from 0.9499 towards 0.8276/82 key support zone. However, break of 0.8863 will indicate short term bottoming and turn bias to the upside for stronger rebound.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The upside from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.

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EUR/GBP Mid-Day Outlook

Daily Pivots: (S1) 0.8692; (P) 0.8724; (R1) 0.8753; More…

EUR/GBP’s break of 0.8681 temporary low suggests that fall from 0.9499 has resumed. Intraday bias is back on the downside for 0.8276/82 key support zone. On the upside, above 0.8754 minor resistance will turn intraday bias neutral again. But further fall would remain in favor as long as 0.8863 resistance holds, in case of recovery.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The upside from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8692; (P) 0.8724; (R1) 0.8753; More…

Intraday bias in EUR/GBP remains neutral as range trading continues inside 0.8681/8863. Further decline is mildly in favor as long as 0.8863 minor resistance holds. Break of 0.8681 will target 0.8276/82 key support zone. nevertheless, firm break of 0.8863 will indicate short term bottoming and turn bias to the upside for stronger rebound.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The upside from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8691; (P) 0.8708; (R1) 0.8727; More…

EUR/GBP is staying in consolidation from 0.8681 and intraday bias remains neutral first. Further decline is mildly in favor as long as 0.8863 minor resistance holds. Break of 0.8681 will target 0.8276/82 key support zone. nevertheless, firm break of 0.8863 will indicate short term bottoming and turn bias to the upside for stronger rebound.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The upside from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8697; (P) 0.8724; (R1) 0.8738; More…

EUR/GBP is still staying in range of 0.8681/8863. Intraday bias remains neutral first. Further decline is mildly in favor as long as 0.8863 minor resistance holds. Break of 0.8681 will target 0.8276/82 key support zone. nevertheless, firm break of 0.8863 will indicate short term bottoming and turn bias to the upside for stronger rebound.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The upside from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8720; (P) 0.8744; (R1) 0.8777; More…

Intraday bias in EUR/GBP remains neutral first. Further decline is mildly in favor as long as 0.8863 minor resistance holds. Break of 0.8681 will target 0.8276/82 key support zone. nevertheless, firm break of 0.8863 will indicate short term bottoming and turn bias to the upside for stronger rebound.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The upside from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.

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EUR/GBP Weekly Outlook

EUR/GBP stayed in range above 0.8681 last week as fall from 0.9499 turned into consolidations. Initial bias remains neutral this week first. Further decline is mildly in favor as long as 0.8863 minor resistance holds. Break of 0.8681 will target 0.8276/82 key support zone. nevertheless, firm break of 0.8863 will indicate short term bottoming and turn bias to the upside for stronger rebound.

In the bigger picture, while the pull back from 0.9499 is deep, there is no sign of trend reversal yet. The upside from 0.6935 (2015 low) should resume at a later stage to 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. This will remain the favored case as long as 0.8276 support holds.

In the long term picture, rise from 0.6935 (2015 low) is still in progress. It could be resuming long term up trend from 0.5680 (2000 low). Decisive break of 0.9799 will target 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) 0.8699; (P) 0.8740; (R1) 0.8770; More…

Intraday bias in EUR/GBP remains neutral and outlook is unchanged. On the upside, break of 0.8863 resistance will suggest completion of whole decline from 0.9499. Intraday bias will be turned back to the upside for retesting 0.9499. On the downside, through, break of 0.8681 will resume the fall towards 0.8276/82 key support zone.

In the bigger picture, up trend from 0.6935 (2015 ) should still be in progress. Next target is 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. Initial resistance could be seen around there as it’s close to 0.9799 (2008 high). In any case, medium term outlook will stay bullish as long as 0.8276 support holds, even in case of deep pull back.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8754; (P) 0.8796; (R1) 0.8816; More…

Intraday bias in EUR/GBP remains neutral for the moment as range trading continues. On the upside, break of 0.8863 resistance will suggest completion of whole decline from 0.9499. Intraday bias will be turned back to the upside for retesting 0.9499. On the downside, through, break of 0.8681 will resume the fall towards 0.8276/82 key support zone.

In the bigger picture, up trend from 0.6935 (2015 ) should still be in progress. Next target is 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. Initial resistance could be seen around there as it’s close to 0.9799 (2008 high). In any case, medium term outlook will stay bullish as long as 0.8276 support holds, even in case of deep pull back.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8750; (P) 0.8807; (R1) 0.8886; More…

Focus is now on 0.8863 minor resistance. Break there will suggest completion of whole decline from 0.9499. Intraday bias will be turned back to the upside for retesting 0.9499. On the downside, through, break of 0.8681 will resume the fall towards 0.8276/82 key support zone.

In the bigger picture, up trend from 0.6935 (2015 ) should still be in progress. Next target is 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. Initial resistance could be seen around there as it’s close to 0.9799 (2008 high). In any case, medium term outlook will stay bullish as long as 0.8276 support holds, even in case of deep pull back.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8708; (P) 0.8726; (R1) 0.8757; More…

No change in EUR/GBP’s outlook. Further decline is mildly in favor with 0.8863 resistance intact. Current fall from 0.9499 could target 0.8276/82 key support zone. On the upside, though, break of 0.8863 minor resistance will indicate short term bottoming and bring rebound.

In the bigger picture, up trend from 0.6935 (2015 ) should still be in progress. Next target is 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. Initial resistance could be seen around there as it’s close to 0.9799 (2008 high). In any case, medium term outlook will stay bullish as long as 0.8276 support holds, even in case of deep pull back.

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EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8678; (P) 0.8700; (R1) 0.8716; More…

Further fall remains mildly in favor in EUR/GBP with 0.8863 resistance intact. Current decline from 0.9499 could target 0.8276/82 key support zone. On the upside, though, break of 0.8863 minor resistance will indicate short term bottoming and bring rebound.

In the bigger picture, up trend from 0.6935 (2015 ) should still be in progress. Next target is 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. Initial resistance could be seen around there as it’s close to 0.9799 (2008 high). In any case, medium term outlook will stay bullish as long as 0.8276 support holds, even in case of deep pull back.

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EUR/GBP Weekly Outlook

EUR/GBP’s decline from 0.9499 extended lower last week. Downside momentum was unconvincing with bullish convergence condition in 4 hour MACD. Nevertheless, further decline is still expected this week as long as 0.8863 resistance holds, towards 0.8276/82 key support zone. On the upside, though, break of 0.8863 minor resistance will indicate short term bottoming and bring rebound.

In the bigger picture, up trend from 0.6935 (2015 ) should still be in progress. Next target is 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. Initial resistance could be seen around there as it’s close to 0.9799 (2008 high). In any case, medium term outlook will stay bullish as long as 0.8276 support holds, even in case of deep pull back.

In the long term picture, rise form 0.6935 (2015 low) is still in progress. It could be resuming long term up trend from 0.5680 (2000 low). Decisive break of 0.9799 will target 100% projection of 0.5680 to 0.9799 from 0.6935 at 1.1054.

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