EUR/GBP Price Prediction: Resumes bear trend after breaking decisively below range floor
Source Fxstreet
- EUR/GBP breaks below support from the floor of a six-week range.
- The pair resumes its long-term bear trend.
EUR/GBP has broken decisively below the base of a six-week range (red dashed line on chart) and is in free fall.
EUR/GBP Daily Chart
The pair is likely to fall substantially lower as the bearish trend resumes. The usual technical method of determining how far, is to take the height of the prior range and extrapolate it lower. A conservative estimate lies at the Fibonacci 61.8% extrapolation, at 0.8225.
A more optimistic forecast at the 100% extension, at 0.8171.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
As of the Asian session on July 17, gold prices ( XAUUSD ) fluctuated around $4,000. However, it is worth noting that gold closed at $3,969.41 yesterday, confirming a break below the $4,0
TradingKey Daily Market Brief: Gold Falls Below $4,000, TSMC’s Strong Earnings Fail to Stop AI Trade Cooling, Chip Stocks Sold OffTracking Market TrendsTradingKey - On July 16, Eastern Time, the three major US stock indexes closed down collectively. Although US economic data performed robustly and the start of the Q2 earnings se
Tracking Market TrendsTradingKey - On July 16, Eastern Time, the three major US stock indexes closed down collectively. Although US economic data performed robustly and the start of the Q2 earnings se
After experiencing a wild surge following its initial listing, SK Hynix ( SKHY) ADR premium is rapidly unwinding. In US trading on Wednesday, July 15, SK Hynix ADRs closed down 9% at $176
Today’s Market Recap: Unexpected PPI Drop Boosts Markets, Apple Hits All-Time High, AI Hardware Stocks Remain Under Pressure, Micron, SanDisk SlumpOn July 15, Eastern Time, the three major US stock indexes closed higher for the second consecutive trading day. The unexpected decline in the US June PPI further st
On July 15, Eastern Time, the three major US stock indexes closed higher for the second consecutive trading day. The unexpected decline in the US June PPI further st
Gold Price Trend Forecast: Why Did Gold Prices Fall After US CPI Cooled? Fed Chair Speech and Iran Situation Become Obstacles As of the Asian trading session on July 15, gold ( XAUUSD) prices fell back to fluctuate near $4,030, erasing nearly all of the gains driven by yesterday's positive CPI data. Looking at t
As of the Asian trading session on July 15, gold ( XAUUSD) prices fell back to fluctuate near $4,030, erasing nearly all of the gains driven by yesterday's positive CPI data. Looking at t
Related Instrument
