0
92
Declining toward the support at 0.8450.
• EUR/GBP has broken the key supports area
between 0.8787 (13/03/2017) high and 0.8484
(31/03/2017 low). The short-term technical
structure is negative as long as the hourly
resistance at 0.8596 holds. Another resistance
can be found at 0.8645. An hourly support lies at
0.8450 (03/01/2017 low). Expected to show
continued weakness.
• In the long-term, the pair has largely recovered
from recent lows in 2015. The technical structure
suggests a growing upside momentum. The pair
is trading above from its 200 DMA. Strong
resistance can be found at 0.9500 psychological
level.
(By Peter Rosenstreich )