(05 JUNE 2017)EUR / GBP:Consolidating above 0.8700.

(05 JUNE 2017)EUR / GBP:Consolidating above 0.8700.

5 June 2017, 13:53
Jiming Huang
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eb

Consolidating above 0.8700.

• EUR/GBP's bullish momentum is fading. The 

technical structure had 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 a further 

bullish breakout 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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