TipTVFinance

EUR/GBP - Rising trend line intact

OANDA:EURGBP   EUR/GBP
Support

0.8934 (monthly Fib pivot + rising trend line support)
0.8881 ( Oct             21 low)
0.8752 (monthly Fib pivot S1)

Resistance

0.9049 (previous day’s high)
0.9115 (monthly Fib pivot R1)
0.9142 ( Oct             11 high)

Comments - BOE is likely to confirm what the market already knows - there is little room left for a further cut in the interest rates. The central bank is widely expected to revise its short-term inflation and growth forecasts higher and long-term growth forecasts lower. Unless there is dovish surprise, the British Pound could move higher, consequently, the rising trend line could be put to test. A daily close below the same would signal trend reversal. In case, there is a dovish surprise, the pair could revisit highs around 0.9150.
tomj2417 PRO
a month ago
Not anymore, the trendline that is.....although as a EW theorist still looks like its got another leg up to me...... unless its a truncated 5th. Never a dull moment with the British Pound!
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out