EURGBP Daily Forecast Mar 07 2014

The EURGBP maintained a  bullish momentum yesterday , bottomed at the 0.8205 levels and topped at the 0.8287 levels . This development leaves the pair targeting the  0.8325 levels , a halt is likely , but break of 0.8325 will open 0.8370 levels , further out will the 0.8420 levels.

On the downside , minor support comes at at the 0.8240 levels , stability above this level will keep pushing towards the 0.8325 levels , but losing the 0.8240 levels will open main support at the 0.8205 levels , note that downside below the 0.8240 levels , should be contained well by the 0.8205 levels. If  0.8205 fails on a daily basis , expect the pair to weaken further to the 0.8160 levels .

In all , as long as support 0.8205 holds on a daily closing basis , the EURGBP will remain based to the upside towards the 0.8325 levels ahead of the 0.8370 levels , losing the 0.8205 levels would reverse risks towards the 0.8160 levels before the next possible rise.


EURGBP Daily Forecast Mar 07 2014