EUR/GBP The Week Ahead

My outlook on this pair is bullish right now. When you look at the weekly chart, you can see that the breakout from the triangle to the downside quickly corrected itself, and we're back in the triangle right now. Perhaps, it will retest the upper trendline in the upcoming weeks.

On the daily chart, we have further bullish confirmation. The pair just closed above the blue medium term trendline. There is strong resistance just above, at .6793, and another one at .6819.

Here's the hourly chart. I think it's fair to expect a retracement from friday's move to .38 or .50 fib level, and that would coincide with the retest of a medium term trendline that was just breached. This would create a good entry point along with some bullish confirmation. This view would be invalidated at the breach of .6719 which is the triangle trendline. Good luck next week!

By looking over the past few weeks, it seems that this pair is prone to some neat breakout patterns. In fact, in January and February one could've traded this pair on trendline breakouts alone. Just a thought.

There is a further piece of confirmation which comes from looking at the fiber chart. Price action would suggest an imminent fall which would most likely result in a fall for EUR/GBP unless GBP relatively fell even more.

ya eurgbp looks interesting but i missed the train so far, looks like eurgbp stays in range 0,6550 to 0,7250 in other ways this looks like and inverted shoulder head shoulder formation so this was the prediction site the to do what i se is still consider long positions as long above 0,6600 for now next resistans where i se importance is 0,6900 level so i try with more than this 1 strategy i will look if dollar bulls get back to buisnes (remmember US election within 2 years) if they do so and eurgbp chart looks up i def trying short sterling but its kinda geeky as we are still inside first quarter but anyway good charts from u :-) and good luck ur trading


revoke

Agreed. EURO is going to fall.

i want to go long on this too but to avoid getting burned, i'll wait to see a retest of the yellow inner trendline and then bounce.

http://i168.photobucket.com/albums/u...1/eurgbp-1.gif

hey don perry

ya agree almost sounds like ur tought by jared martinez :-) so a dip and action on charts is what i need

revoke

This is EUR rate hike vs Cable no-hike week. Question is whether or not these events are already priced in. If not, EURGBP up hard