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.
placeholder
Analysts Predict These 5 Meme Coins to 10x by 2025The meme coin cumulative market cap waned by 11.79% this month. But those who’ve been riding the crypto rollercoaster for years know to buy the dip.
Author  Bitcoinist
10 hours ago
The meme coin cumulative market cap waned by 11.79% this month. But those who’ve been riding the crypto rollercoaster for years know to buy the dip.
placeholder
India’s economy is tumbling, and it might take whole world down with itIndia’s economy is spiraling. The rupee is sinking like a stone, dragging with it a mix of trade deficits, shrinking capital inflows, and uncertainty. The country’s economy has quickly become so important that if it plummets, the global economy will be at stake.
Author  Cryptopolitan
10 hours ago
India’s economy is spiraling. The rupee is sinking like a stone, dragging with it a mix of trade deficits, shrinking capital inflows, and uncertainty. The country’s economy has quickly become so important that if it plummets, the global economy will be at stake.
placeholder
Down 19% in 1 Day, Is Novo Nordisk Stock Still a Buy?Amidst a race with its competitors to produce the next smash-hit weight loss drug, Novo Nordisk's (NYSE: NVO) stock crashed by 19% on Dec. 20, after the company reported results from a late-stage clinical trial that it framed as a success.
Author  The Motley Fool
10 hours ago
Amidst a race with its competitors to produce the next smash-hit weight loss drug, Novo Nordisk's (NYSE: NVO) stock crashed by 19% on Dec. 20, after the company reported results from a late-stage clinical trial that it framed as a success.
placeholder
Shiba Inu Has Plummeted 41% From Its 52-Week High. Is It Time to Buy?Volatility has always been a feature of the cryptocurrency markets. The collective value of all coins and tokens in existence recently hit an all-time high of nearly $3.9 trillion, but the market is in correction territory again, with a 12% drop as of this writing.
Author  The Motley Fool
13 hours ago
Volatility has always been a feature of the cryptocurrency markets. The collective value of all coins and tokens in existence recently hit an all-time high of nearly $3.9 trillion, but the market is in correction territory again, with a 12% drop as of this writing.
placeholder
Crucial Bitcoin Metric Back To Healthy Bull Levels, Analyst RevealsAn analyst has explained how an important Bitcoin indicator is back to levels that may be considered healthy for a bull-market uptrend.
Author  Bitcoinist
13 hours ago
An analyst has explained how an important Bitcoin indicator is back to levels that may be considered healthy for a bull-market uptrend.
Related Instrument
goTop
quote