EURGBP Weekly Forecast Mar 03 2014

Despite recovery the past 2 weeks  , outlook in EURGBP is on the downside as long as resistance 0.8336 holds on a weekly basis , support comes at the 0.8157 levels , sustained trading below this level will open 0.8000 levels , a halt is suggested , but losing the 0.8000 levels will open 0.7800 next.

On the upside , break of 0.8336 levels will confirm bottoming at the  0.8157 levels , If seen , the pair will recapture the 0.8375 levels where a breach will turn focus on the 0.8470 levels.

Note that upside move above 0.8336 should be limited by the 0.8470 levels , sustained trading above the 0.8470 levels will turn outlook towards 0.8700 and possible higher.

In all , as long as resistance 0.8336 holds , the EURGBP will remain based to the downside towards the 0.8157/0.8000 levels , break of 0.8336 will turn outlook neutral and bring consolidations.

 

EURGBP Weekly Forecast Mar 03 2014

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