EURGBP Technical Outlook (26-30 January,2015) | January 24, 2015

EURGBP's down rally continued last week also. It is full of down momentum and falling continuously. Our recommendation in this pair is to stay on sell side from every retracement. Sell zone for this pair is 0.7505 and 0.7560 area. You can sell from this level and target will be 0.7250 area.


In daily chart, this pair broke its support 0.7600 area and fall from that level. Daily candle is showing bearish momentum. In H4 chart, we can see a long legged pin bar. But it did not get any bullish candle in the next candle. Last H4 candle is fully bearish. So this pin bar is not valid. We need to stay on downward momentum and sell from every retracement.



Weekly Pivot, Support and Resistance


Resistance Two (R2): 0.7822

Resistance One (R1): 0.7646

Pivot Point: 0.7536

Support One (S1): 0.7360

Support Two (S2): 0.7250