EURGBP is currently trying to keep on moving up towards 0.8010, having earlier moved down to the point of 0.7984. After this increase, expected to be corrected again EURGBP on a limited basis.
Thread: Eur/Gbp
EURGBP is currently trying to keep on moving up towards 0.8010, having earlier moved down to the point of 0.7984. After this increase, expected to be corrected again EURGBP on a limited basis.
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The brace has unkempt the H1 uptrend product and now trying to develop the H4 uptrend stock, if flight, we'd see tumbling physician targeting .8807 and .8764.
Otherwise, the unite will bounce up to .8936 and .8975 again before it continues to bearish.
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Although stochastic signal for EUR/GBP in tf d1 shown in oversold area, price still continue down. this downward movement affected by medium term trend that shown down and pressure in market. But, price can hold its position in around daily support 1 level (0.7990). Now, price is trying to retrace up from this level.
Spoiler:
At the H4 chart, the price is below 12 EMA (red) and 72 EMA (blue) indicates the trend is still down
21 RSI is below 50 indicates the trend is still down
Recommendation: SELL
Target: 0.7928
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Elliott: flat correction up 0.8053
It should try higher up to 0.8010. Entry point 0.8002 or 0.7997. After this rise, a correction is expected.
Warning: End of trend
Technical points
Key point 0.8017
Entry point 0.8001
Elliott 0.7986
Closing 0.8008
Projection 0.8020
Trendline 0.8002
Trendline 0.7996
Supports / Resistances
Res 2 0.8028
Ex-High 0.8012
Res 1 0.8018
Pivot 0.8002
Sup 1 0.7992
Ex-Low 0.7986
Sup 2 0.7976
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Yes indeed the EUR / GBP continues to decline slowly ... until trades occur at the trend line, and now the candles just too small, there is a consolidation .. so should soon be accelerating ... still think we will go down and Now there is still food supply ..
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The trading range for this week is among the key support at 0.7830 and key resistance now at 0.8165.
The general trend over short term basis is to the upside targeting 1.0370 as far as areas of 0.7785 remain intact.
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eur/gbp technical analysis by using : average directional movement index
adx : 14.4564
+di : 10.6435
-di : 13.8377
timeframe : 1 hour
time : 1900
date : 05.11.2012
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the pound was fractionally higher against the euro with EUR/GBP dipping 0.09%, to hit 0.8005.
Markets were also jittery amid concerns over whether Greeces parliament will approve a package of spending cuts and tax hikes in a vote on Wednesday, which will determine if Athens receives its next tranche of financial aid.
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The decline from 0.7994 to 0.7986 area likely to be followed by a recovery to move up higher up from 0.8020 to 0.8028. After which it can resume its downtrend.
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