Tuesday, 1 December 2015

EUR/GBP Technical Analysis as on Tuesday, December 01 2015


TECHNICAL ANALYSIS

EUR/GBP is primarily bearish on the charts and the currency pair is sustaining below the trend line in its hourly chart. In hourly chart the price is sustaining below 50 day SMA and taking resistance of 200 day SMA indicating downtrend of the pair. It is having an important resistance at the level of 0.7050 and support at the level of 0.7000. If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.

EUR-GBP-currency-Technical-Analysis


FOREX INDICATORS

MACD is sustaining in its negative territory indicating the bearish trend in the pair.
RSI is sustaining in its selling zone indicating the upcoming bearish trend in the pair.

EUR-GBP-Currency-Technical-Analysis


TRADING STRATEGY 

EUR/GBP is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions in it.


                          Currency Pairs Pivot Points

PAIR
S3
S2
S1
PIVOT
R1
R2
R3
EUR/USD
1.0512
1.0534
1.0552
1.0574
1.0592
1.0614
1.0632
GBP/USD
1.4929
1.4960
1.5009
1.5040
1.5089
1.5120
1.5169
USD/JPY
122.10
122.38
122.80
123.08
123.50
123.78
124.20
USD/CHF
1.0189
1.0221
1.0256
1.0288
1.0323
1.0355
1.0390
AUD/USD
0.7100
0.7134
0.7183
0.7217
0.7266
0.7300
0.7349
EUR/GBP
0.6956
0.6983
0.7001
0.7028
0.7046
0.7073
0.7091
USD/CAD
1.3222
1.3265
1.3308
1.3351
1.3394
1.3437
1.3480
NZD/USD
0.6447
0.6480
0.6538
0.6571
0.6629
0.6662
0.6720