EURGBP Weekly Forecast Feb 17-21

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The EURGBP continued its bearish momentum last week , bottomed at the 0.8173 levels, and topped at the 0.8386 . This development leaves the pair targeting the 0.8000 levels the upcoming weeks , a halt is suggested but a breach will turn focus on the 0.7800 levels.

On the upside , resistance comes at the 0.8385 levels , stability below this level will keep the pair under pressure , but break of 0.8385 would weaken the current bearish for retesting the 0.8467 levels before the next fall.

In all , as long as resistance 0.8385 holds on a weekly basis , the pair will remain based to the downside with risk towards the 0.8000 levels , break of 0.8385 will turn outlook neutral and bring rebound towards the 0.8467 levels before the next fall.

 

EURGBP Weekly Forecast Feb 17-21

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