EURGBP Weekly Forecast Sept 29 2014

The EURGBP continued its bearish momentum last week , printed resistance at the 0.7888 levels . This development leaves the pair targeting the 0.7700 levels , a halt is likely , but losing the 0.7700 levels will pave the way towards the 0.7600 levels , further downside will aim the 0.7500 levels.

On the upside , resistance comes at the 0.7888 levels , a clear break above the 0.7888 levels will put the pair in recovery mode , but upside move above the 0.7888 levels should be limited by the 0.8065 levels..

In all , as long as resistance 0.7888 holds on a weekly closing basis , outlook in EURGBP remains on the downside towards the 0.7700 levels ahead of the 0.7600 levels , a clear break above the 0.7888 levels will bring limited gains below the 0.8065 levels..

 

EURGBP Weekly Forecast Sept 29 2014

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