Thu, Jan 28, 2021 @ 08:22 GMT

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8736; (P) 0.8773; (R1) 0.8792; More…

3The break of 0.8760 support suggests that rebound from 0.8620 is likely finished at 0.8844. The three wave corrective structure in turns argue that larger decline from 0.9305 is not completed yet. Intraday bias is turned back tot he downside for 0.8679 support first. Break will affirm this bearish case and target 0.8620 and below. On the upside, break of 0.8844 is now needed to revive the bullish case of reversal. Otherwise, outlook is now bearish even in case of recovery.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8769; (P) 0.8803; (R1) 0.8828; More…

Intraday bias in EUR/GBP remains neutral for the moment. Loss of momentum as seen in 4 hour MACD and the steep retreat from 0.8844 argues that rebound from 0.8620 might be completed. Break of 0.8760 minor support will turn bias to the downside for 0.8679. Break there will likely resume whole decline from 0.9305 through 0.8620 low. On the upside, above 0.8844 will revive near term bullishness for 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963).

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8821; (P) 0.8831; (R1) 0.8847; More…

Upside momentum in EUR/GBP remains unconvincing as seen in 4 hour MACD. But with 0.8781 minor support intact, further rise is mildly in favor for 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963). Firm break there will confirm neat term reversal. On the downside, below 0.8781 minor support will turn focus back to 0.8679 support. Break there will suggests that larger decline from 0.9305 is resuming.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

EUR/GBP Weekly Outlook

While upside momentum was unconvincing, EUR/GBP extended the rebound from 0.8620 last week and hit as high as 0.8844. Initial bias remains on the upside this week for 0.8967 cluster resistance next (50% retracement of 0.9305 to 0.8620 at 0.8963). Firm break there will confirm neat term reversal. On the downside, below 0.8781 minor support will turn focus back to 0.8679 support. Break there will suggests that larger decline from 0.9305 is resuming.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) 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.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8805; (P) 0.8823; (R1) 0.8847; More…

Intraday bias in EUR/GBP is back on the upside as rebound from 0.8620 resumes. Further rise would be seen to 0.8967 cluster resistance next (50% retracement of 0.9305 to 0.8620 at 0.8963). Firm break there will confirm neat term reversal. On the downside, below 0.8781 minor support will turn focus back to 0.8679 support. Break there will suggests that larger decline from 0.9305 is resuming.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8781; (P) 0.8805; (R1) 0.8829; More…

Intraday bias in EUR/GBP remains neutral at this point. Further rise is expected as long as 0.8760 minor support holds. On the upside, above 0.8830 will resume the rebound from 0.8620 and target 0.8967 cluster resistance next (50% retracement of 0.9305 to 0.8620 at 0.8963). Firm break there will confirm neat term reversal. On the downside, below 0.8760 minor support will turn focus back to 0.8679 support. Break there will suggests that larger decline from 0.9305 is resuming.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8771; (P) 0.8796; (R1) 0.8834; More…

EUR/GBP edged higher to 0.8830 today but quickly retreated. Intraday bias stays neutral first. On the upside, above 0.8830 will resume the rebound from 0.8620 and target 0.8967 cluster resistance next (50% retracement of 0.9305 to 0.8620 at 0.8963). Firm break there will confirm neat term reversal. On the downside, below 0.8760 minor support will turn focus back to 0.8679 support. Break there will suggests that larger decline from 0.9305 is resuming.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8751; (P) 0.8788; (R1) 0.8812; More…

EUR/GBP retreated after hitting 0.8826 and intraday bias is turned neutral. On the upside, above 0.8826 will resume the rebound from 0.8620 and target 0.8967 cluster resistance next (50% retracement of 0.9305 to 0.8620 at 0.8963). Firm break there will confirm neat term reversal. On the downside, below 0.8679 will turn bias to the downside for 0.8620 instead.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8669; (P) 0.8709; (R1) 0.8739; More…

EUR/GBP’s rally continues today and reaches as high as 0.8817 so far. Intraday bias remains on the upside for 0.8967 cluster resistance next (50% retracement of 0.9305 to 0.8620 at 0.8963). Firm break there will confirm neat term reversal. On the downside, below 0.8679 will turn bias to the downside for 0.8620 instead.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

EUR/GBP Weekly Outlook

After deeper than expected pull back, EUR/GBP’s rebound resumed by breaking 0.8790 last week. The development affirmed the case of near term reversal. That is, decline from 0.9305 has completed at 0.8620. Initial bias remains on the upside this week for 0.8967 cluster resistance next (50% retracement of 0.9305 to 0.8620 at 0.8963). Break will confirm this view and target retesting 0.9305. On the downside, below 0.8679 will turn bias to the downside for 0.8620 instead.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) 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.

EUR/GBP Mid-Day Outlook

Daily Pivots: (S1) 0.8669; (P) 0.8709; (R1) 0.8739; More…

EUR/GBP’s strong rebound today now put focus back to 0.8790 resistance. Break will resume the rebound from 0.8620, and revive the case of near term reversal. In that case, further rise should be seen to 0.8967 (50% retracement of 0.9305 to 0.8620 at 0.8963) next. On the downside, below 0.8679 will turn bias to the downside for 0.8620 instead.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8669; (P) 0.8709; (R1) 0.8739; More…

Intraday bias in EUR/GBP remains on the downside for the moment. Rebound from 0.8620 should have completed at 0.8790 already. Deeper fall would be seen back to 0.8620 low. As EUR/GBP was rejected by falling 55 day EMA, recent decline is possibly still in progress. Break of 0.8620 will resume the whole fall from 0.9305 and target 0.8303/12 support zone. On the upside, though, above 0.8796 will resume the rebound from 0.8620 instead.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

EUR/GBP Mid-Day Outlook

Daily Pivots: (S1) 0.8722; (P) 0.8736; (R1) 0.8744; More…

EUR/GBP’s sharp decline and break of 0.8688 minor support suggests that rebound from 0.8620 has completed at 0.8790 already, ahead of 0.8796 resistance, limited by 55 day EMA. The development also dampens the bullish case of near term reversal. Intraday bias is turned back to the downside for 0.8620 low first. Break there will resumed the whole decline from 0.9305. On the upside, though, above 0.8796 will resume the rebound from 0.8620 instead.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8722; (P) 0.8736; (R1) 0.8744; More…

EUR/USD is staying in consolidative trading and intraday bias remains neutral first. Further rise is expected as long as 0.8688 minor support holds. Break of 0.8797 will extend the rise from 0.8620 to key cluster resistance at 0.8967 (50% retracement of 0.9305 to 0.8620 at 0.8963) next. On the downside, break of 0.8688 minor support will dampen the bullish case and turn focus back to 0.8620 instead.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8739; (P) 0.8752; (R1) 0.8765; More…

Intraday bias in EUR/GBP remains neutral for the moment. Further rise is expected as long as 0.8688 minor support holds. Break of 0.8797 will extend the rise from 0.8620 to key cluster resistance at 0.8967 (50% retracement of 0.9305 to 0.8620 at 0.8963) next. On the downside, break of 0.8688 minor support will dampen the bullish case and turn focus back to 0.8620 instead.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8743; (P) 0.8758; (R1) 0.8773; More…

Intraday bias in EUR/GBP is turned neutral first with 4 hour MACD crossed below signal line. Further rise is expected as long as 0.8688 minor support holds. Break of 0.8797 will extend the rise from 0.8620 to key cluster resistance at 0.8967 (50% retracement of 0.9305 to 0.8620 at 0.8963) next. On the downside, break of 0.8688 minor support will dampen the bullish case and turn focus back to 0.8620 instead.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8738; (P) 0.8765; (R1) 0.8796; More…

Intraday bias in EUR/GBP remains on the upside for the moment. short term bottom should be formed after hitting 61.8% projection of 0.9305 to 0.8745 from 0.8967 at 0.8621. Break of 0.8796 will pave the way to key cluster resistance at 0.8967 (50% retracement of 0.9305 to 0.8620 at 0.8963) next. On the downside, break of 0.8688 minor support will dampen the bullish case and turn focus back to 0.8620 instead.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

EUR/GBP Weekly Outlook

EUR/GBP edged lower to 0.8620 last week but rebounded strongly since then. A short term bottom should be formed after hitting 61.8% projection of 0.9305 to 0.8745 from 0.8967 at 0.8621. Initial bias remains on the upside this week for 0.8796 resistance first. Break will target key cluster resistance at 0.8967 (50% retracement of 0.9305 to 0.8620 at 0.8963) next. On the downside, break of 0.8688 minor support will dampen the bullish case and turn focus back to 0.8620 instead.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) 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.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8713; (P) 0.8741; (R1) 0.8794; More…

EUR/GBP’s strong rebound and firm break of 0.8739 indicates near term reversal. And whole decline from 0.9305 has likely completed after hitting 61.8% projection of 0.9305 to 0.8745 from 0.8967 at 0.8621. Intraday bias is back on the upside for 0.8796 first. Firm break there will target key cluster resistance at 0.8967 (50% retracement of 0.9305 to 0.8620 at 0.8963) next. On the downside, break of 0.8688 minor support will dampen the bullish case and turn focus back to 0.8620 instead.

In the bigger picture, there are various ways to interpret price actions from 0.9304 high. But after all, firm break of 0.9304/5 is needed to confirm up trend resumption. Otherwise, range trading will continue with risk of deeper fall. And in that case, EUR/GBP could have a retest on 0.8303. But we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8663; (P) 0.8693; (R1) 0.8741; More…

EUR/GBP edges higher to 0.83735 today but stays below 0.8739 resistance. Intraday bias remains neutral first. For now, we’d still expect strong resistance from 0.8379 to limit upside and bring fall resumption. Break of 61.8% projection of 0.9305 to 0.8745 from 0.8967 at 0.8621 will extend larger decline to 100% projection at 0.8407. However, sustained break of 0.8739 will indicate near term reversal and bring stronger rise back to 0.8796 and above.

In the bigger picture, there are various ways to interpret price actions from 0.9304 high. But after all, firm break of 0.9304/5 is needed to confirm up trend resumption. Otherwise, range trading will continue with risk of deeper fall. And in that case, EUR/GBP could have a retest on 0.8303. But we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.