(17 APRIL 2017):EUR / GBP

(17 APRIL 2017):EUR / GBP

18 April 2017, 14:01
Jiming Huang
0
34

ERUGBP

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 )

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