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Weekly forecast Euro / British Pound technical chart
Symbol EURGBP

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.8345 to 0.8275). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.8345)
    • Support on 08/04/2016
    • Support on 09/05/2016
    • Support on 09/06/2016
    • Support on 12/05/2016
    • Support on 12/13/2016
    • Support on 12/14/2016
    • Support on 12/15/2016
    • Support on 12/16/2016
    • Support on 04/18/2017
    • Support on 04/19/2017
    • Support on 04/21/2017
    • Support on 12/17/2019
  • Ending of entry zone (0.8275)
    • Resistance on 06/24/2016
    • Support on 06/30/2016
    • Support on 07/14/2016
    • Support on 07/15/2016
    • Trough on 12/13/2019
    • Support on 12/13/2019

DateJanuary 25, 2020 - 21:23
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.82750, beginning of uptrend is expected.
  • We make sure when the resistance at 0.85900 breaks.
  • If the support at 0.82750 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 58 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 0.8595 on 01/13/2020, so more losses to support(s) 0.8400, 0.8345 and minimum to Major Support (0.8275) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 40.

Take Profits:

  1. 0.8400
  2. 0.8490
  3. 0.8590
  4. 0.8675
  5. 0.8800
  6. 0.9000
  7. 0.9325
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / British Pound (EURGBP) Sat, 23 Mar 2024
Euro / British Pound (EURGBP) Sun, 17 Mar 2024
Euro / British Pound (EURGBP) Sat, 9 Mar 2024
Euro / British Pound (EURGBP) Sat, 2 Mar 2024
Euro / British Pound (EURGBP) Sun, 25 Feb 2024