Greece wants to amend the loan agreements with the ECB and it has a strong impact on the euro. At the same time, these economic sentiment in the euro area is growing rapidly, which in turn should affect strengthen the euro against the pound. However, for the second week in a row H4 pair testing the support level 0.7168, not changing under the influence of positive news. A similar pattern of movement of the currency pair may indicate the formation of a stable psychological minimum, which would lead to a prolonged decline of the euro.
The main forecast
The currency pair may continue to test the level of 0.7168, however, after each slight rebound bears become more confident. If the currency pair consolidates below 0.7168, it will form a strong sell signal to 0.7032 and below.
Alternative forecast
There is a possibility of formation of the corrective movement to the level of 0.7320, but to start buying, you should wait for consolidation above 0.7260.
Resistance levels: 0.7260, 0.7320.
Support levels: 0.7168, 0.7032.
The main forecast
The currency pair may continue to test the level of 0.7168, however, after each slight rebound bears become more confident. If the currency pair consolidates below 0.7168, it will form a strong sell signal to 0.7032 and below.
Alternative forecast
There is a possibility of formation of the corrective movement to the level of 0.7320, but to start buying, you should wait for consolidation above 0.7260.
Resistance levels: 0.7260, 0.7320.
Support levels: 0.7168, 0.7032.
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