FXWIREPRO: EUR/GBP Upside Pauses Just Shy of 0.7946 (2016 Highs), Momentum Higher

FXWIREPRO: EUR/GBP Upside Pauses Just Shy of 0.7946 (2016 Highs), Momentum Higher

1 April 2016, 08:16
Roberto Jacobs
0
22

FXWIREPRO: EUR/GBP Upside Pauses Just Shy of 0.7946 (2016 Highs), Momentum Higher

  • The euro extended gains versus the pound, hit high at 0.7944, just two pips below 0.7946 (2016 highs). 
  • The pair extends gains above 0.7900 in the wake of the euro area flash inflation figures released on Thursday. 
  • Momentum still with the bulls, we see scope for further upside, minor resistance at 0.7947. 
  • Breaks above will see tests of 0.7970 and then 0.80 levels. 
  • Our previous call (http://www.econotimes.com/FxWirePro-EUR-GBP-on-track-to-retake-079-handle-buy-dips-target-07945-186940) has hit target 1.

Recommendation: Risk averse can book partial profits at 0.7945 levels, raise trailing stop to 0.79, target 0.7970/0.80 

The material has been provided by InstaForex Company - www.instaforex.com

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