EURGBP Daily Forecast Jul 16 2014

The EURGBP continued its bearish momentum yesterday , bottomed at the 0.7910 levels and topped at the 0.7980 levels .This scenario is likely to open the 0.7845 levels , we might see hesitation around this level, but further losses will pave the way towards the 0.7760 levels ahead of the 0.7670 levels………..

On the upside , resistance comes at the 0.7940 levels ahead of the 0.7980 levels ( main ) , break of the 0.7980 levels on a daily basis will turn outlook neutral for retesting the 0.8030/0.8085 levels before the next fall…

In all , as long as resistance 0.7980 holds on a daily closing basis , outlook in EURGBP remains on the downside towards the 0.7845 levels ahead of the 0.7760 levels , above the 0.7980 levels will turn outlook neutral for retesting the 0.8030/0.8085 levels before the next possible fall……..

Notes :

1- The pair was rejected yesterday from the weekly resistance 0.7958 and printed resistance on the daily time frame at the 0.7980 levels, the idea ; the pair is very bearish…….

2- A daily closing  below the key support 0.7910 , will turn 0.7910 from support to resistance , keep that in mind …

 

EURGBP Daily Forecast Jul 16 2014

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