EURGBP Daily Forecast Dec 09 2014

Outlook in EURGBP remains on the downside as long as resistance 0.7909 holds on a daily closing basis , support comes at the 0.7831 levels where a cut will open 0.7775 levels , a halt is likely but further losses will pave the way towards the 0.7700/0.7625 levels.

On the upside , resistance comes at the 0.7909 levels , break of this level on a daily closing basis will turn outlook neutral for retesting the 0.7972/0.8033 levels before the next fall, however ; sustained trading above the 0.8033 levels on a daily basis will extend recovery towards 0.8160 levels before the next move.

In all , as long as resistance 0.7909 holds on a daily closing basis , outlook in EURGBP remains on the downside towards the 0.7700/0.7625 levels , above 0.7909 will bring rebound towards theĀ 0.7972/0.8033 levels before the next fall.

In the medium term forecast , as long as resistance 0.8160 holds on a weekly closing basis , the pair remains bearish with risk towards the 0.7700/0.7500 levelsĀ ..

 

EURGBP Daily Forecast Dec 09 2014

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