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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 Sell Zone (0.9190 to 0.9325). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (0.9190)
    • Support on 08/24/2017
    • Support on 08/25/2017
    • Support on 08/30/2017
    • Support on 08/31/2017
    • Resistance on 09/07/2017
    • Resistance on 09/08/2017
    • Resistance on 07/30/2019
    • Resistance on 08/16/2019
    • Resistance on 08/20/2019
  • Ending of entry zone (0.9325)
    • Resistance on 01/28/2009
    • Resistance on 03/12/2009
    • Support on 03/23/2009
    • Support on 03/26/2009
    • Resistance on 08/09/2019
    • Peak on 08/12/2019
    • Resistance on 08/12/2019
DateAugust 24, 2019 - 18:47
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 0.93250 would begin in Midterm.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 0.9325 on 08/12/2019, so more losses to support(s) 0.9000, 0.8895, 0.8725 and more depths 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 45.

Take Profits:

  1. 0.9150
  2. 0.9095
  3. 0.9000
  4. 0.8895
  5. 0.8725
  6. 0.8490
Click on the level to view price action history.
Symbol Released Current Forecast
Euro / British Pound (EURGBP) Sun, 14 Apr 2024
Euro / British Pound (EURGBP) Sat, 6 Apr 2024
Euro / British Pound (EURGBP) Sat, 30 Mar 2024
Euro / British Pound (EURGBP) Sat, 23 Mar 2024
Euro / British Pound (EURGBP) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on EURGBP.