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.
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EUR/USD steadies near 1.1650 ahead of US Nonfarm PayrollsEUR/USD holds ground after five days of losses, trading around 1.1650 during the Asian hours on Friday. Traders remain cautious ahead of the US Nonfarm Payrolls (NFP) report, which is expected to offer further insight into labor market conditions and the Federal Reserve’s (Fed) policy outlook.
EUR/USD holds ground after five days of losses, trading around 1.1650 during the Asian hours on Friday. Traders remain cautious ahead of the US Nonfarm Payrolls (NFP) report, which is expected to offer further insight into labor market conditions and the Federal Reserve’s (Fed) policy outlook.
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