EUR/GBP Daily Outlook
Intraday bias in EUR/GBP is turned neutral again with break of 0.8414 minor resistance and some consolidation would be seen. But near term outlook will stay cautiously bearish as long as 0.8585 resistance holds. On the downside, break of 0.8338 will resume the fall from 0.8720 and target a test on 0.8201 low.
In the bigger picture, current development suggests rejection by 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Medium term term bearishness is maintained. Break of 0.8201 will resume larger down trend from 0.9499 (2020 high). Nevertheless, sustained break of 0.8697 will affirm the case that rise from 0.8201 is a medium term up trend itself.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.