(02 OCTOBER 2017)EUR / GBP:Bullish consolidation.

(02 OCTOBER 2017)EUR / GBP:Bullish consolidation.

2 October 2017, 13:38
Jiming Huang
0
13

eg

Bullish consolidation.

(By Yann Quelenn)

• EUR/GBP is trading sideways. Yet, the pair is 

facing selling pressures. As long as prices remain 

below the resistance at 0.8899 (19/09/2017 low), 

the short-term technical structure is biased to 

the downside. Hourly support is given at 0.8746 

(27/09/2017). Resistance lies at 0.8899 

(19/09/2017 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).


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