EURGBP Rally Could Falter with a Close Below 0.7840

EURGBP Rally Could Falter with a Close Below 0.7840

29 March 2016, 06:36
Francis Dogbe
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EURGBP has gained nearly 1,000 pips since November of last year, the longest sustained rally since the 2012 low. It hasn’t been pretty at times, and just when the pair seemed ready to give in, it somehow managed to churn higher. However, despite the “tricky” price action of late, the pair has one thing going for it that sets it apart from the herd – distinct levels from which to trade. Except the GBPNZD wedge, which I commented on over the weekend, EURGBP has some of the best levels of any pair at the moment. The 0.7842 level has acted as support and resistance on several occasions since February. Below that, the ... READ MORE
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