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EURGBP may recover if Technical indicator helps

ijayakumar Przesłąno 26 Lis  w #Trader's blog #Price Action #Eurgbp #Trend Line
EURO is trying to recover slightly against GBP, but there are no evident moves from Euro to show some bullish channel. Please find the analysis on EURGBP daily chart,
As the price action suggests, this pair may recover and trade above 0.7086 which will allow it to extend the bullish run near to 50 SMA or 0.72. Else, in another case it may form a double bottom which may lead the bearish channel and touch the 0.68 mark.
Good luck everyone and Cheers for ThanksGiving day!
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EURGBP is expected to go bearish

ijayakumar Przesłano 14 Paź jako Analiza EUR/GBP, Cel: 0.7220, Data: 1 z Grudzień, 12:00 GMT  w #Technical analysis #Price Action #EUR/GBP #Eurgbp #Candlesticks
Fundamentally GBP is resuming on track for bull run and hence I expect this pair to go bearish in next month. Please find below the chart analysis,
Weekly chart:
 - Exactly around 50 SMA, the sell pressure has increased and it shows that downtrend resumes but slowly
- Based on the price action, we can clearly see that this pair is trading with solid support and resistance which is hard to breakout
Daily chart:
- Double top decline suggests that breakout is not possible and bearish turn has star…
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Przetłumacz na Angielski Pokaż oryginał

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9 Komentarze
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ijayakumar avatar
ijayakumar 11 Lis

Because of continuous dovishness from Euro, this pair gone down heavily more than expected. But still because of recent weakness in GBP fundamentals, this pair may trade in indecisive manner for some days!

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ijayakumar 20 Lis

EURO's weakness on Draghi's speech made more bottom run than expected. Still if Euro gets new life in next week, then this pair may near the .72 price range!

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ijayakumar 24 Lis

After crossing bearishly below 0.7 mark and moving in 0.69 range, this pair is slowly recovering and trying to stay above 0.7. If this recovery continues, EURGBP may finish close to 0.72 price action,

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ijayakumar 26 Lis

A long waited big correction is still pending with EURO before Draghi takes the stage. It's highly possible that Euro will appreciate tomorrow or Monday. If that happens, this pair is capable of trading around 0.72 price.

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ijayakumar 27 Lis

If Monday German data helps and GBP's depreciation continues, then this pair has every chance to resume back to 0.72 price range!

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