(15 MAY 2017)EUR / GBP:Ready for further decline.

(15 MAY 2017)EUR / GBP:Ready for further decline.

15 May 2017, 14:00
Jiming Huang
0
27

EG

Ready for further decline.

• EUR/GBP is trading lower. The technical

structure remains negative as long as the 

resistance at 0.8530 (25/04/2017 low) holds. 

Expected to show continued weakness until 

support given at 0.8304 (05/12/2017 low). 

• 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 Yann Quelenn)

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