(24 APRIL 2017):EUR / GBP:Moving sideways.

(24 APRIL 2017):EUR / GBP:Moving sideways.

24 April 2017, 14:17
Jiming Huang
0
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EURGBP

Moving sideways. 

• EUR/GBP is now pausing after unsuccessfully 

challenged its key support at 0.8304. 

Resistances for a temporary rebound are given 

by 0.8500 (intraday high) and 0.8512 

(18/04/2017 reaction high). The short-term 

technical structure is negative as long as the 

resistance at 0.8596 holds. Expected to show 

renewed 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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