EUR/GBP Mid-Day Outlook

Daily Pivots: (S1) 0.9054; (P) 0.9092; (R1) 0.9119; More…

EUR/GBP surges to as high as 0.9209 so far. The break of 0.9175 resistance confirms resumption of whole rise form 0.8670. Intraday bias remains on the upside for 100% projection of 0.8670 to 0.9175 from 0.8866 at 0.9371. On the downside,below 0.9130 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, at this point, we’re still seeing the fall from 0.9499 as developing into a corrective pattern. That is, up trend form 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds.

 

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.9054; (P) 0.9092; (R1) 0.9119; More…

Intraday bias in EUR/GBP remain son the upside at this point. Decisive break of 0.9175 will resume whole choppy rise from 0.8670. Next target will be 100% projection of 0.8670 to 0.9175 from 0.8866 at 0.9371. On the downside, below 0.9034 minor support will turn intraday bias neutral first. But further rally will now be in favor as long as 0.8866 support holds.

In the bigger picture, at this point, we’re still seeing the fall from 0.9499 as developing into a corrective pattern. That is, up trend form 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.9000; (P) 0.9036; (R1) 0.9106; More…

Intraday bias in EUR/GBP remains on the upside for 0.9148/9175 resistance zone. Choppy rise from 0.8670 might be resuming. Break of 0.9175 will target 100% projection of 0.8670 to 0.9175 from 0.8866 at 0.9371. On the downside, below 0.9034 minor support will turn intraday bias neutral first. But further rally will now be in favor as long as 0.8866 support holds.

In the bigger picture, at this point, we’re still seeing the fall from 0.9499 as developing into a corrective pattern. That is, up trend form 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8936; (P) 0.8965; (R1) 0.9001; More…

Intraday bias in EUR/GBP remains on the upside at this point. The corrective decline from 0.9175 has possibly completed with three waves down to 0.8866, ahead of 0.8864 support. Rise form 0.8670 might be still in progress. Further rise should be seen to retesting 0.9148/9175 resistance zone. On the downside, break of 0.8866 will resume the fall from 0.9175 instead.

In the bigger picture, at this point, we’s still seeing the fall from 0.9499 as developing into a corrective pattern. That is, up trend form 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds.

EUR/GBP Mid-Day Outlook

Daily Pivots: (S1) 0.8894; (P) 0.8923; (R1) 0.8946; More…

EUR/GBP’s rebound from 0.8866 extends higher today. Break of 0.8974 firstly indicates short term bottoming at 0.8866, ahead of 0.8864. More importantly, corrective decline from 0.9175 has possibly completed with three waves down to 0.8866. Rise from 0.8670 might be still in progress. Intraday bias is turned back to the upside for 0.9148/9175 resistance zone. Nevertheless, break of 0.8866 will resume the fall from 0.9175.

In the bigger picture, at this point, we’s still seeing the fall from 0.9499 as developing into a corrective pattern. That is, up trend form 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8894; (P) 0.8923; (R1) 0.8946; More…

EUR/GBP recovers mildly today but stays below 0.8974 resistance. Intraday bias remains neutral first. On the downside, break of 0.8864 support should confirm completion of the choppy rebound from 0.8670 at 0.9175. Deeper fall should be seen to 0.8670 support. On the upside, however, break of 0.8974 will dampen this bearish case and turn bias back to the upside for rebound, back to 0.9148/9175 resistance zone.

In the bigger picture, at this point, we’s still seeing the fall from 0.9499 as developing into a corrective pattern. That is, up trend form 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds.

EUR/GBP Weekly Outlook

EUR/GBP dropped to 0.8866 last week but recovered just ahead of 0.8864 support. Initial bias remains neutral this week for some consolidations first. Further fall is expected as long as 0.8974 resistance holds. Firm break of 0.8864 should confirm completion of the choppy rebound from 0.8670 at 0.9175. Deeper fall should be seen to 0.8670 support. On the upside, however, break of 0.8974 will dampen this bearish case and turn bias back to the upside for rebound.

In the bigger picture, at this point, we’s still seeing the fall from 0.9499 as developing into a corrective pattern. That is, up trend form 0.6935 (2015 low) would resume at a later stage. 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). Break of 0.9799 is expected down the road, as long as 0.8276 support holds.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8883; (P) 0.8908; (R1) 0.8951; More…

Intraday bias in EUR/GBP is turned neutral as it recovers just ahead of 0.8864 near term support. Further fall is expected with 0.8974 resistance intact. Firm break of 0.8864 should confirm completion of whole rebound from 0.8670 at 0.9175. Deeper decline would then be seen to retest 0.8670 support. Nevertheless strong rebound from currently level, followed by break of 0.8974 resistance, will turn bias back to the upside for 0.9148/75 resistance zone instead.

In the bigger picture, at this point, we’s still seeing the fall from 0.9499 as developing into a corrective pattern. That is, up trend form 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8866; (P) 0.8887; (R1) 0.8900; More…

Intraday bias in EUR/USD remains on the downside with focus on 0.8864 support. Firm break there should confirm completion of whole rebound from 0.8670 at 0.9175. Deeper decline would then be seen to retest 0.8670 support. Nevertheless strong rebound from currently level, followed by break of 0.8974 resistance, will turn bias back to the upside for 0.9148/75 resistance zone instead.

In the bigger picture, at this point, we’s still seeing the fall from 0.9499 as developing into a corrective pattern. That is, up trend form 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8877; (P) 0.8912; (R1) 0.8934; More…

Intraday bias in EUR/GBP remains on the downside at this point. Fall from 0.9175 should continue to 0.8864 support. Break will confirm completion of whole rebound from 0.8670 at 0.9175. On the upside, though, break of 0.8974 resistance will turn intraday bias neutral first.

In the bigger picture, at this point, we’s still seeing the fall from 0.9499 as developing into a corrective pattern. That is, up trend form 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8908; (P) 0.8937; (R1) 0.8958; More…

With 0.8974 minor resistance intact, further fall is expected in EUR/GBP to 0.8864 support. Break will confirm completion of whole rebound from 0.8670 at 0.9175. On the upside, though, break of 0.8974 resistance will turn intraday bias neutral first.

In the bigger picture, at this point, we’s still seeing the fall from 0.9499 as developing into a corrective pattern. That is, up trend form 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8893; (P) 0.8934; (R1) 0.8959; More…

Intraday bias in EUR/GBP stays on the downside at this point. Choppy rebound from 0.8670 should have already completed at 0.9175. Deeper fall would be seen to 0.8864 support first. Break there should confirm this bearish case and target 0.8670 and below. On the upside, though, break of 0.8974 resistance will turn intraday bias neutral first.

In the bigger picture, at this point, we’s still seeing the fall from 0.9499 as developing into a corrective pattern. That is, up trend form 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds.

EUR/GBP Weekly Outlook

EUR/GBP dropped to as low as 0.8908 last week. The close below 55 day EMA argues that rebound choppy rebound from 0.8670 has already completed at 0.9175. Initial bias is now on the downside for 0.8864 support first. Break there should confirm this bearish case and target 0.8670 and below. On the upside, though, break of 0.8974 resistance will turn intraday bias neutral first.

In the bigger picture, at this point, we’s still seeing the fall from 0.9499 as developing into a corrective pattern. That is, up trend form 0.6935 (2015 low) would resume at a later stage. 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). Break of 0.9799 is expected down the road, as long as 0.8276 support holds.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8936; (P) 0.8951; (R1) 0.8971; More…

EUR/GBP dipped to 0.8029 but quickly recovered. Intraday bias remains neutral first. On the downside, firm break of 0.8930 support will come with sustained break of 55 day EMA. That would argue that rebound from 0.8670 has completed. In this case, intraday bias will be turned to the downside for 0.8864 support for confirmation. On the upside, break of 0.9175 will resume larger rise from 0.8670, towards 0.9499 high.

In the bigger picture, while the pull back from 0.9499 was 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.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8933; (P) 0.8969; (R1) 0.8990; More…

Intraday bias in EUR/GBP remains neutral for the moment. On the downside, firm break of 0.8944 support will come with firm break of 55 day EMA. That would argue that rebound from 0.8670 has completed. In this case, intraday bias will be turned to the downside for 0.8864 support for confirmation. On the upside, break of 0.9175 will resume larger rise from 0.8670, towards 0.9499 high.

In the bigger picture, while the pull back from 0.9499 was 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.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8976; (P) 0.9007; (R1) 0.9030; More…

EUR/GBP is staying in consolidation from 0.9175 and intraday bias remains neutral. On the upside, break of 0.9175 will resume larger rise from 0.8670, towards 0.9499 high. However, break of 0.8930 support will also come with firm break of 55 day EMA. That would argue that rebound from 0.8670 has completed. In this case, intraday bias will be turned to the downside for 0.8864 support for confirmation.

In the bigger picture, while the pull back from 0.9499 was 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.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.9003; (P) 0.9023; (R1) 0.9045; More…

Intraday bias in EUR/GBP remains neutral as consolidation form 0.9175 is still extending. . On the upside, break of 0.9175 will resume larger rise from 0.8670, towards 0.9499 high. However, break of 0.8930 support will also come with firm break of 55 day EMA. That would argue that rebound from 0.8670 has completed. In this case, intraday bias will be turned to the downside for 0.8864 support for confirmation.

In the bigger picture, while the pull back from 0.9499 was 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.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8965; (P) 0.8991; (R1) 0.9037; More…

No change in EUR/GBP’s outlook as it’s staying in consolidation form 0.9175. On the upside, break of 0.9175 will resume larger rise from 0.8670, towards 0.9499 high. However, break of 0.8930 support will also come with firm break of 55 day EMA. That would argue that rebound from 0.8670 has completed. In this case, intraday bias will be turned to the downside for 0.8864 support for confirmation.

In the bigger picture, while the pull back from 0.9499 was 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.

EUR/GBP Weekly Outlook

EUR/GBP dipped to 0.8944 last week but recovered ahead of 0.8930 support. Initial bias remains neutral this week and more sideway trading could be seen. On the upside, break of 0.9175 will resume larger rise from 0.8670, towards 0.9499 high. However, break of 0.8930 support will also come with firm break of 55 day EMA. That would argue that rebound from 0.8670 has completed. In this case, intraday bias will be turned to the downside for 0.8864 support for confirmation.

In the bigger picture, while the pull back from 0.9499 was 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.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8940; (P) 0.9004; (R1) 0.9038; More…

Intraday bias in EUR/GBP remains neutral and outlook is unchanged. On the upside, break of 0.9175 will resume larger rise from 0.8670, towards 0.9499 high. However, break of 0.8930 support will also come with firm break of 55 day EMA. That would argue that rebound from 0.8670 has completed. In this case, intraday bias will be turned to the downside for 0.8864 support for confirmation.

In the bigger picture, while the pull back from 0.9499 was 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.