EUR/GBP recovered last week but failed to break through 0.8577 so far. Initial bias remains neutral this week first. Considering bullish convergence condition in D MACD, decisive break of 0.8577 and 55 D EMA (now at 0.8574) will argue that fall from 0.8764 has completed. Intraday bias will be back on the upside for rebound
EURGBP Outlook
Daily Pivots: (S1) 0.8550; (P) 0.8560; (R1) 0.8570; More… Intraday bias in EUR/GBP stays neutral at this point. On the upside, firm break of 0.8577 will resume the rebound from 0.8497. On the downside, decisive break of 0.8491/7 support zone will resume larger down trend. In the bigger picture, fall from 0.8764 is seen as
Daily Pivots: (S1) 0.8549; (P) 0.8558; (R1) 0.8569; More… No change in EUR/GBP’s outlook and intraday bias remains neutral. Risk stays mildly on the downside with 0.8577 resistance intact. Decisive break of t 0.8491/7 support zone will resume larger down trend. On the upside, however, break of 0.8577 will turn bias to the upside for
Daily Pivots: (S1) 0.8542; (P) 0.8555; (R1) 0.8561; More… Intraday bias in EUR/GBP remains neutral for the moment. Risk stays mildly on the downside with 0.8577 resistance intact. Decisive break of t 0.8491/7 support zone will resume larger down trend. On the upside, however, break of 0.8577 will turn bias to the upside for resuming
Daily Pivots: (S1) 0.8539; (P) 0.8550; (R1) 0.8565; More… Intraday bias in EUR/GBP is turned neutral with current recovery. But risk stays on the downside with 0.8577 resistance intact. Decisive break of t 0.8491/7 support zone will resume larger down trend. On the upside, however, break of 0.8577 will turn bias to the upside for
Daily Pivots: (S1) 0.8528; (P) 0.8540; (R1) 0.8552; More… Intraday bias in EUR/GBP remains mildly on the downside at this point. Recovery from 0.8497 could have completed at 0.8577. Further rally would be seen to retest 0.8491/7 support zone. Decisive break there will resume larger down trend. For now, risk will stay on the downside
EUR/GBP’s late breach of 0.8535 minor support argues that recovery from 0.8497 has completed at 0.8577 already. Initial bias is now on the downside this week for retesting 0.8491/7 support zone. Decisive break there will resume larger down trend. For now, risk will stay on the downside as long as 0.8577 resistance holds, in case