EUR/GBP Weekly Forecast: Key Technical Levels and Market Sentiment
EUR/GBP Weekly Outlook
The EUR/GBP currency pair's recovery from 0.8382 extended higher last week, suggesting some resilience in the market.
Market Sentiment
However, the outlook remains bearish as long as the resistance level at 0.8498 holds. This indicates a continuation of the trend unless significant changes occur.
Key Technical Levels
- Current low: 0.8382
- Resistance level: 0.8498
Initial Bias
The initial bias for this week is neutral, which means traders should be cautious.
Conclusion
A firm break of 0.8382 will likely resume the larger downtrend, indicating a strong shift in market direction. It’s essential for traders to keep an eye on these levels for strategic planning.
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.