EUR/GBP Daily Outlook: Analysis and Forecast

Tuesday, 9 July 2024, 07:39

The EUR/GBP exchange rate outlook remains uncertain with the intraday bias currently neutral. A sustained trading above the 55-day Exponential Moving Average at 0.8501 could signal further upside movement to 0.8529. Conversely, a break below the support level at 0.8493 might indicate the completion of a corrective recovery, leading to a retest of the 0.8396 low and a potential resumption of the larger downtrend.

Actionforex — EUR/GBP Daily Outlook: Analysis and Forecast

EUR/GBP Daily Outlook

The intraday bias for the EUR/GBP exchange rate is currently neutral.

Key Points:

Sustained trading above 55-day EMA (0.8501) could extend the rise to 0.8529.
Break of 0.8493 support might signal corrective recovery completion.
Retesting of 0.8396 low possible on downside bias.
Firm break below 0.8396 will resume larger downtrend.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

EUR/GBP Daily Outlook

Key Points:

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