(16 OCTOBER 2017)EUR / GBP:Bearish pressures.

(16 OCTOBER 2017)EUR / GBP:Bearish pressures.

16 October 2017, 13:44
Jiming Huang


Bearish pressures.

(Yann Quelenn )

• EUR/GBP's weakness is only a consolidation. The pair is back below former resistance at 0.8899 (19/09/2017 low). The very short-term technical structure is now biased to the upside. Hourly support is given at a distance at 0.8746 (27/09/2017 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). 

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