Eur/Gbp

[pritishahfx]

Weekly
Last Candlesticks pattern: N/A
Time of formation: N/A
Trend bias: Near term up

---------- Post added at 03:29 AM ---------- Previous post was at 03:27 AM ----------

Daily

Last Candlesticks pattern: Doji
Time of formation: 31 Mar 2014
Trend bias: Near term down

---------- Post added at 03:33 AM ---------- Previous post was at 03:29 AM ----------

EURGBP – 0.7469

Despite rebounding initially to 0.7592 earlier this week, as the single currency met renewed selling interest there (we recommended to sell at 0.7560 in our previous update) and has retreated, retaining our bearishness for recent decline to resume after consolidation, break of recent low at 0.7405 would confirm and extend weakness to 0.7365-70 (1.236 times projection of 0.7875-0.7595 measuring from 0.7714), then towards 0.7300-10, however, near term oversold condition should prevent sharp fall below 0.7260-65 (1.618 times projection) and price should stay well above 0.7200, bring rebound later.

[pritishahfx]

see two pic Daily chart & Monthly chart in wave

[pritishahfx]

The pair dropped and is trading below 0.7500 strengthening our previously suggested negative expectations. Stabilizing below the referred to level is negative and support the downside move targeting 0.7370 and 0.7300, while breaching 0.7565 threatens to fail the suggested expectations.

---------- Post added at 08:03 PM ---------- Previous post was at 08:02 PM ----------

Support 0.7450 0.7400 0.7370 0.7300 0.7225
Resistance 0.7500 0.7520 0.7600 0.7660 0.7685
Recommendation
Negative expectations below 0.7500, risk-limit above 0.7600.

---------- Post added at 08:23 PM ---------- Previous post was at 08:03 PM ----------

EUR/GBP Mid-Day Outlook

Daily Pivots: (S1) 0.7425; (P) 0.7499; (R1) 0.7541; More...

We're mildly favoring the case that recovery from 0.7403 has completed at 0.7591 already. Focus is back on 0.7403. Break will extend recent fall to next long term key support level at 0.7250/53. In case of more sideway trading, we'd expect upside to be limited by 0.7594 support turned resistance and bring fall resumption. Nonetheless, break of 0.7594 will indicate short term bottoming and bring stronger rebound to 0.7713 and above.

---------- Post added at 08:24 PM ---------- Previous post was at 08:23 PM ----------

In the bigger picture, the down trend from 0.9799 (2006 high) is still in progress. Such decline would now target next key support level at 0.7250 (61.8% retracement of 0.5680 to 0.9799 at 0.7253). We'd be cautious on rebound from there. On the upside, break of 0.7755 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

---------- Post added 02-06-2015 at 02:51 AM ---------- Previous post was 02-05-2015 at 08:24 PM ----------

EUR/GBP Elliott Wave Analysis

EUR/GBP – 0.7487

EUR/GBP – The A leg of major correction from 0.9805 has ended at 0.8067, followed by (B) leg at 0.9084 and (C) leg is still in progress for weakness to 0.7300.

---------- Post added at 02:56 AM ---------- Previous post was at 02:54 AM ----------

Despite this week's brief bounce to 0.7592, as the single currency met renewed sellinig interest there and has retreated again, bearishness remains for recent decline to resume after consolidation, break of said support at 0.7405 would extend recent decline in wave iii to 0.7365-70 (1.236 times projection of 0.7875-0.7595 measuring from 0.7714), however, loss of downward momentum should prevent sharp fall below 0.7300 and reckon 0.7260-65 (1.618 times projection) would hold from here, risk from there has increased for a corrective rebound to take place later. We are keeping our count that the major (A)-(B)-(C)-(X)-(A)-(B)-(C) correction is unfolding with first (A)-(B)-(C) ended at 0.7756, followed by wave (X) at 0.8815, hence 2nd (A) is unfolding for weakness towards 0.7360-70 but reckon 0.7200 would hold, bring rebound in wave (B).

---------- Post added at 02:57 AM ---------- Previous post was at 02:56 AM ----------

On the daily chart, as euro's fall from 0.8815 turned out to be deeper than expected, suggesting near term downside risk remains for a retest of 0.7756 support, break there would confirm wave (X) ended at 0.8815 and another set of (A)-(B)-(C) is unfolding for further weakness to 0.7700, then 0.7600, however, the (A) wave itself should be limited to 0.7200 and bring rebound in wave (B) in late Q1.

---------- Post added at 02:58 AM ---------- Previous post was at 02:57 AM ----------

Our latest preferred count is that the wave V of a 5-wave series from 0.5682 ended at 0.9805 earlier and major from there has possibly ended at 0.8067 as A-B-C-X-A-B-C. We are keeping our view that the entire correction from 0.9805 has possibly ended at 0.7756 and as labeled as the attached daily chart and impulsive move from 0.9084 has ended at 0.7756 as a 5-waver which marked either the (C) wave or the A leg of (C), a daily close above resistance at 0.8831 would suggest (C) leg has ended and headway towards 0.9084.

---------- Post added at 02:59 AM ---------- Previous post was at 02:58 AM ----------

On the upside, whilst initial recovery to 0.7520-30 cannot be ruled out, said resistance at 0.7592 should remain intact, bring another decline. Above 0.7600-10 would defer and risk a stronger rebound to 0.7650-60 but reckon upside would be limited to 0.7590-00 and price should falter well below 0.7700-10, bring another decline to aforesaid downside targets. Only above previous support at 0.7745 would abort and suggest a temporary low is formed instead, risk a stronger rebound to 0.7800-10 but reckon resistance at 0.7875 would hold from here, bring another decline later.

Recommendation: Sell at 0.7530 for 0.7380 with stop above 0.7610

---------- Post added at 03:00 AM ---------- Previous post was at 02:59 AM ----------

Euro's long term uptrend started in Feb 1981 at 0.5039 and is unfolding as a (A)-(B)-(C) move with (A): 0.8433 (Feb 1993), (B): 0.5682 (May 2000) and impulsive wave (C) should have ended at 0.9805 with wave III ended at 0.7254 (May 2003), triangle wave IV at 0.6536 (23 Jan 2007) and wave V as well as wave (C) has ended at 0.9805.

---------- Post added at 03:01 AM ---------- Previous post was at 03:00 AM ----------

We are keeping an alternate count that only wave III ended at 0.9805 and the correction from there is the wave IV and may extend weakness to 0.7700, however, it is necessary to see a daily close above resistance at 0.9143 would change this to be the preferred count.

[ducd3vaizo]

Daily Forecast

Pairs: EURGBP
Major Trend: Bearish
Time Frame: H1
Reason: It is predicted that the market will still be a correction in the area of Bollinger band center line, at 0.7475, then the market will melanutkan price to 0.7427
Recommendation: Sell limit at 0.7475

[Gamabunta]

I think that we should wait until the price break the support level at 0.7401, than we get in short position with take profit at 0.7244.

[KAUL]

analysis for today 2 / 4 / 2015

EURGBP

Resistance : R1 0.7633 R2 0.7658 R3 0.7678 R4 0.7708
Support : S1 0.7497 S2 0.7472 S3 0.7452 S4 0.7422

Open : 0.7566
High : 0.7572
Low : 0.7558
Range : 0.0014 Pips
Running Price : 0.7560

Strategy : BUY at the level 0.7560 stop loss at the level 0.7497 target take profit at the level 0.7678 or at the level 0.7708

---------- Post added 02-05-2015 at 08:16 AM ---------- Previous post was 02-04-2015 at 08:36 AM ----------

analysis for today 2 / 5 / 2015

EURGBP

Resistance : R1 0.7523 R2 0.7548 R3 0.7568 R4 0.7598
Support : S1 0.7401 S2 0.7376 S3 0.7356 S4 0.7326

Open : 0.7469
High : 0.7476
Low : 0.7448
Range : 0.0028 Pips
Running Price : 0.7467


Strategy : SELL at the level 0.7467 stop loss at the level 0.7523 target take profit at the level 0.7356 or at the level 0.7326

[mianshabbir01]

EURGBP Analysis & Signals 03/02/15

Order SELL BELOW
SELL
Sell at 0.7570
Take Profit at 0.7537
Stop Loss at 0.7599

[ducd3vaizo]

Daily Forecast

Pairs: EURGBP
Major Trend: Bullish
Time Frame: H1
Reason: It appears that the RSI has been returned through the line 50, and the market headed up, predicted prices will be up to the first resistance at 0.7559
Recommendation: Buy now with a target of 0.7559

[KAUL]

analysis for today 2 / 2 / 2015

EURGBP

Resistance : R1 0.7564 R2 0.7589 R3 0.7609 R4 0.7639
Support : S1 0.7432 S2 0.7407 S3 0.7387 S4 0.7357

Open : 0.7492
High : 0.7507
Low : 0.7489
Range : 0.0018 Pips
Running Price : 0.7503

Strategy : BUY at the level 0.7503 stop loss at the level 0.7432 target take profit at the level 0.7609 or at the level 0.7639

[mianshabbir01]

EURGBP Analysis & Signals 02/02/15

Order SELL BELOW
Type SELL LIMIT
Sell at 0.7525
Take Profit at 0.7445
Stop Loss at 0.7563