EURGBP Long Term Outlook & Levels

FX:EURGBP   Euro / British Pound
190 0 7
THE BIG PICTURE: What appears to be a retracement in segment AB can be measured with a fib extension tool. That measurement can be projected from point C to determine a level where the current long term move may culminate. Segment AB, when measure sets up for a target somewhere around 0.67. For the moment, price has to deal with an important level in the 61.8% retracement of the segment BC             which currently finds support just above 0.70. In addition the recent price action is stalling at an old level of resistance from a neckline formed from the reverse head and shoulders which helped form point B.

THE TECHNICAL STANDPOINT: Jumping in front of a freight train will only cause more anxiety than needed. Switch to the lower time frames and patiently wait for a turn around either at the 61% of Segment BC             which is where the market is currently trading, or at the fib extension level posted at point D. Risk is limited if the trade is terminated due to the failure of price to hold above either of these two levels. Its essential to allow for the trade to develop on the lower time frames before taking action. There will be plenty of time to jump in when the time is right.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out