fxpulsation
Posts : 8759 Join date : 2012-01-25
| Subject: EUR/GBP Daily Outlook Fri Feb 01, 2013 11:10 am | |
| EUR/GBP Daily Outlook Daily Pivots: (S1) 0.8545; (P) 0.8569; (R1) 0.8585; More.... EUR/GBP continues to lose upside momentum but still, with 0.8527 minor support intact, further rise is still expected to 161.8% projection of 0.7755 to 0.8164 from 0.7959 at 0.8621. Break will target 200% projection at 0.8777. Meanwhile, break of 0.8527 minor support will suggest short term topping and bring lengthier consolidation before staging another rise. In the bigger picture, price actions from 0.9799 are treated as a long term consolidation pattern with fall from 0.9083 as the third leg. Current development affirms the case that such correction is completed at 0.7755 already, inside 0.7693/8186 support zone as expected. Further medium term rally should be seen to 0.9083 key resistance level for confirmation. Meanwhile, we's stay bullish as long as 0.8164 support holds even in case of pull back. | |
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