Weekly price is on bullish breakout for 0.8314 resistance level to be broken to above for the bullish breakout to be continuing. If W1 price breaks 0.8314 resistance level on close bar so the bullish breakout will be continuing. If not so the price will be on bullish ranging within the levels.
Daily price is on the breakout with 100 SMA to be broken to above for the primary bullish market condition: the price was bounced from 0.7993 resistance level for the ranging waiting for the bullish trend to be continuing or for the secondary correction to be started.
The Euro accelerated lower against the British Pound, putting in the largest daily loss in six months and exposing the 0.77 figure. Prices established a top with the formation of a Bearish Engulfing candlestick pattern as expected, with subsequent losses hinting the long-term down trend may be resuming. Near-term support is in the 0.7683-0.7703 area, marked by a horizontal pivot and the 38.2% Fibonacci retracement. A break below this barrier ...
EUR/GBP: breakout with bullish reversal. Weekly price is breaking 200 period SMA for the reversal from the ranging bearish to the primary bullish market condition. if the price breaks 0.7946 resistance so the bullish trend will be continuing;if the price breaks 0.7525 support level so the price will be reversed back to the bearish market condition;if not so the price will be moved within the channel. ...
EUR/GBP is resuming its larger downtrend, following the break of 0.7174/0.7166, notes Bank of America Merrill Lynch. "We look for a test and break of the Mar-11 low at 0.7014, ahead of the 0.6900/0.6800 region. Bounces should not exceed the Apr-19 high at 0.7245," BofA projects. Turning to EUR/USD, BofA notes that while the 1.0500-1.1000 range is still intact, its correction is turning increasingly in a 'Triangular' pattern. ...