hello i think I expect downward move to 0.8900
EURGBP is facing resistance level at 0.9045 and daily downtrend line so reversal is expected soon
Good luck everyone
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hello i think I expect downward move to 0.8900
EURGBP is facing resistance level at 0.9045 and daily downtrend line so reversal is expected soon
Good luck everyone
long positions at 0.8580 with 0.8610 and 0.8650 as next targets
the breakout of 0.8540 will call for arebound towards 0.8490
Forex EUR/GBP resistance level 0.8600
Failed pair EUR/GBP in penetrating psychological resistance .8600 strongly yesterday and has fallen to it,
lowest level,s of day by about 0.24% below it,s opening price at 0.8565
buy eur/gbp at the level 0.8545, with targets at 0.8612 and 0.8650, but in case of breaking the level 0.8529, then sell at this level with targets at 0.8512 and 0.8478
EUR/GBP lost some momentum ahead of 161.8% projection of 0.7755 to 0.8164 from 0.7959 at 0.8621. But with 0.8527 minor support intact,, further rise is still expected. Sustained break of 0.8621 will target 200% projection at 0.8777. Meanwhile, break of 0.8527 minor support will suggest short term topping and bring lengthier consolidation before staging another rise.
In the bigger picture, price actions from 0.9799 are treated as a long term consolidation pattern with fall from 0.9083 as the third leg. Current development affirms the case that such correction is completed at 0.7755 already, inside 0.7693/8186 support zone as expected. Further medium term rally should be seen to 0.9083 key resistance level for confirmation. Meanwhile, we's stay bullish as long as 0.8164 support holds even in case of pull back.
Analysis result EUR GBP 01 FEBRUARY 2013
UP TREND (STRONG)
Signal 20 pips : BUY @ 0.8589 Set S/L @ 0.8559 Set TP @ 0.8609
Signal Breakout : BUY @ 0.8609 Set S/L @ 0.8579Set TP @ 0.8629
Reversal Prediction HIGH : 0.8629
EURGBP rises and now trying to break resistance level 0.8584, if it's broken, the pair will continue rise to next resistance at 0.8608, but if it fails to break the level, it is possible to go down towards 0.8568 and may continue to 0.8544
Spoiler:
The position of the current price is above the 50 EMA on the daily chart, momentum is bullish
The position of the current MACD cross the line above the area 0, the momentum is bullish
Trend today: bullish
Target today:0.8665
the price is breaking the resistance level 0.8625 but now it is making some correction. other view stoch and cci is also in over bought area. stoch is giving short signal with cross out so we can short this pair with target 0.8590 and stop loss is 0.8650