EURGBP Weekly Forecast 13 -17 Jan

Recommendations: SHORT positions below 0.8345 with  0.8270 & 0.8240 as next targets.
Alternative scenario:The upside breakout of 0.8345 will open  0.8390/0.8430 levels.
Description: Initial bias is neutral this week for EURGBP pair, main resistance comes at the 0.8345 levels, stability below this level on a 4 hour basis will keep the pair under pressure with risk towards 0.8270/0.8240 levels, losing this level on a 4 closing basis would accelerate the bearish move  and open 0.8200/0.8170 levels.On the upside , main resistance at 0.8345 , break of this level would open 0.8390 ahead of  0.8430 levels.

Support and resistance  : 0.8170 ,0.8200 , 0.8240, 0.8270,0.8300,0.8345 (Pivot) , 0.8390  ,0.8430 , 0.8470 , 0.8500

 

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