EURGBP Next Week Outlook - bear market rally to be started
15 October 2015, 09:11
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W1 price is located below 200 period SMA
and below 100 period SMA for the primary bearish market condition for ranging between 0.7591 resistance level and 0.6935 support level:
- the price is trying to cross 0.7441 resistance and 0.7482 resistance from below to above for the bear market rally to be started;
- symmetric triangle pattern and ascending triangle pattern were formed by the price to be crossed for uptrend;
- if the price breaks 0.7591 resistance level from below to above so the market rally will be started with the good possibility to the reversal of the price movement to the bullish market condition;
- if the price breaks 0.6935 support level from above to below so the bearish market condition will be continuing.
Trend:
