EUR/GBP Daily Outlook: Key Insights and Market Analysis
Friday, 12 July 2024, 07:16
EUR/GBP Daily Outlook
The intraday bias for EUR/GBP remains bearish, with a focus on potential downside movement.
Key Points:
- Corrective Recovery: Potential completion of a recovery phase from 0.8396 to 0.8498.
- Support Retest: Anticipated deeper fall to retest the support level at 0.8396.
- Continuation of Downtrend: Firm break below 0.8396 to signal resumption of the larger downtrend.
In conclusion, the EUR/GBP pair is currently poised for further downside movement unless a significant resistance level is breached, potentially altering the short-term bias towards a more neutral stance.
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.