EURGBP Weekly Forecast May 19 2014

Outlook in EURGBP remains on the downside this week , support comes at the 0.8126 levels , a break would open 0.8050 next , furthe downside will open the psychological level 0.8000 levels , at this point strong support is likely , but If 0.8000 fails , expect the pair to weaken further towards the 0.7900/0.7800 levels.

On the upside , resistance comes at the 0.8194 levels , a break will turn outlook neutral for retesting 0.8235/0.8258 levels before the next fall , break of 0.8258 levels on a weekly basis will turn outlook for the upside towards the 0.8400 levels.

In all , as long as resistance 0.8258 holds on a weekly closing basis , outlook in EURGBP remains on the downside towards the 0.8126/0.8000 levels. break of 0.8258 levels will reverse risks towards the 0.8400 levels.

 

 

EURGBP Weekly Forecast May 19 2014

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