EURGBP Technical Outlook - daily reversal; weekly breakout
9 December 2015, 13:23
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D1 price is on on breakout with bullish reversal for now:
- price is breaking Ichimoku cloud to above to be reversed from the primary bearish to the primary bullish market condition;
- Chinkou Span line broke the price from below to above for good breakout;
- Absolute Strength indicator is estimating the bullish trend to be started and to continuing.
EUR/GBP price is breaking 0.7278 resistance level which is the key reversal level for the price to come to the bullish area of the chart with 0.7492 as the next bullish target.
| Resistance | Support |
|---|---|
| 0.7278 | 0.7029 |
| 0.7492 | 0.6981 |
The Strategy: watch close daily price to break 0.7278 resistance level for possible buy trade.
