(23 OCTOBER 2017)EUR / GBP:Fading.

(23 OCTOBER 2017)EUR / GBP:Fading.

23 October 2017, 13:59
Jiming Huang



(By Peter Rosenstreich)

• EUR/GBP continues to bounce higher yet not important resistances have been broken (quick test). The pair is back below former resistance at 0.8899 (19/09/2017 low). 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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