{"id":60855,"date":"2014-09-24T08:10:02","date_gmt":"2014-09-24T12:10:02","guid":{"rendered":"http:\/\/countingpips.com\/?p=60855"},"modified":"2014-09-24T09:33:58","modified_gmt":"2014-09-24T13:33:58","slug":"eurgbp-remains-bearish-eyes-2012s-low","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/09\/eurgbp-remains-bearish-eyes-2012s-low\/","title":{"rendered":"EUR\/GBP Remains Bearish; Eyes 2012\u2019s Low"},"content":{"rendered":"<div id=\"inves-3262424499\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">September 24, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <span style=\"color: #ff0000;\"><strong>Bearish<\/strong><\/span><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>Ifo German Business Climate Index fell to 104.7;<\/li>\n<li>Draghi acknowledged euro\u2019s current level as being in line with Europe\u2019s Monetary-Policy path;<\/li>\n<li>EUR\/GBP seeks lower lows, targeting 0.7782 and 0.7754.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><em>After a failed rally attempt on Tuesday, which ended up re-testing 0.7889, EUR\/GBP sell-off resumed at its usual pace.<\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p><a href=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/09\/EURGBP24thSeptember.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-6662\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/09\/EURGBP24thSeptember.png\" alt=\"EURGBP24thSeptember\" width=\"700\" height=\"346\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">EUR\/GBP has been trending lower since 10<sup>th<\/sup> September, when a large Bearish Engulfing Bar marked the end of a corrective phase. Towards the end of last week, EUR\/GBP went on to confirm the validity of the main downtrend, with a solid break below 0.7889, ultimately pricing a fresh Lower Low of 0.7809.<\/p>\n<p style=\"text-align: justify;\">Although price remains contained within last week\u2019s boundaries, multiple signals confirm that bearish pressure remains dominant. Tuesday\u2019s resistance re-test was followed by a swift rejection, forming another Bearish Engulfing Bar on the Daily timeframe. Although Stochastic is entering oversold territory, a more serious bounce is unlikely until traders hit their desired targets.<\/p><div id=\"inves-4118434521\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p style=\"text-align: justify;\">A break below 0.7809 will pave the way for more losses down to 0.7782 (61.8% Fibonacci retracement from 0.6535 up to 0.9801), quickly followed by 2012\u2019s Low at 0.7753. A dramatic sell-off acceleration, below 0.7000 \/ 0.7750, lacks the necessary economic triggers at this point, consequently a consolidation period should begin once these support levels will be reached.<\/p>\n<p>*********<br \/>\nPrepared by Alex Z., Chief Currency Strategist at <a href=\"http:\/\/www.capitaltrustmarkets.com\/\">Capital Trust Markets<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bearish Key Takeaways Ifo German Business Climate Index fell to 104.7; Draghi acknowledged euro\u2019s current level as being in line with Europe\u2019s Monetary-Policy path; EUR\/GBP seeks lower lows, targeting 0.7782 and 0.7754. After a failed rally attempt on Tuesday, which ended up re-testing 0.7889, EUR\/GBP sell-off resumed at its usual pace. \u00a0 Technical [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-60855","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/60855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=60855"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/60855\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=60855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=60855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=60855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}