(29 MAY 2017)EUR / GBP:Growing demand.

(29 MAY 2017)EUR / GBP:Growing demand.

29 May 2017, 14:17
Jiming Huang
0
33

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Growing demand.

• EUR/GBP is strengthening despite ongoing 

bearish consolidation. The technical structure 

has turned positive since the pair has broken 

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

support can be found at 0.8304 (05/12/2017 low). 

Expected to see further continued increase 

towards resistance at 0.8787 (13/03/2017 high). 

• 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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