EURGBP Technical Analysis (19-23 January,2015) | January 17, 2015

EURGBP has broken its major support area. It dropped sharply after breaking 0.7760 support level. It is now on down pressure as it is staying below that level. Weekly bias remains downside for this pair.


In weekly chart, we can see that this pair is below the support level. A big bearish candle is formed on weekly chart. So it has down momentum for further bearish rally. It has enough room to fall and target will be 0.7200 level.


In daily chart, we can see some bearish candles. It indicates to sell on this pair. Selling zone for this pair is 0.7730-.07755 area. Our recommendation for this pair is to sell from near term resistance and stay on downside.



Weekly Pivot, Support and Resistance


Resistance Two (R2): 0.7921

Resistance One (R1): 0.7776

Pivot Point: 0.7683

Support One (S1): 0.7538

Support Two (S2): 0.7445