EUR/GBP has corrected back after bottoming on June 14 at the 0.8398 lows.
EUR/GBP is correcting in a medium-term downtrend. It has moved up to partially fill a price gap and will probably eventually fill the rest. A break below the June 25 low would signal a resumption of the dominant downtrend. The pair appears to be in a medium-term downtrend which, given “the trend is your friend” is likely to resume once the pull-back runs out of steam. A break below 0.8431 would signal such a resumption.
EUR/GBP Daily Chart The initial target for a move down would be the 0.8399 June 14 low. The correction may still pull higher, however, as it has pulled all the way up to a gap . Gaps are normally filled eventually and there is, therefore, a risk of more upside evolving as price fills this gap. EUR/GBP 4-hour Chart The top and bottom points of price gaps tend to represent support and resistance levels for price. As such, if price does fill the gap and reaches the top at 0.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/GBP Price Analysis: Reaches downside target for range breakoutEUR/GBP is in a downtrend with odds favoring a continuation lower whilst a heightened chance in the short-term the pair might pull back first.
Read more »
EUR/GBP Price Analysis: Piercing Line candlestick pattern signals short-term reversal after lowsEUR/GBP has sold-off steeply since breaking out of a range-bound consolidation it was trading in for most of the start of the year.
Read more »
EUR/GBP Price Analysis: Moving up to fill the “gap”EUR/GBP has recovered after breaking out of the range that it was trading in, in late May and falling steeply.
Read more »
British Pound Sentiment Analysis and Outlook: GBP/USD, EUR/GBP, GBP/JPYIn this article, we examine market sentiment on the British pound through a detailed analysis of GBP/USD, EUR/GBP, and GBP/JPY. We also assess potential near-term outcomes based on retail sector positioning and contrarian signals.
Read more »
EUR/USD and EUR/GBP Latest Retail Sentiment AnalysisThe Euro has seen varied flows over the last week and that leaves the outlook for EUR/USD and EUR/GBP mixed
Read more »
EUR/GBP IG Client Sentiment: Our data shows traders are now at their most net-long EUR/GBP since May 24 when EUR/GBP traded near 0.85.Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/GBP-bearish contrarian trading bias.
Read more »