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