(30 OCTOBER 2017)EUR / GBP:Monitoring support area.

(30 OCTOBER 2017)EUR / GBP:Monitoring support area.

30 October 2017, 12:41
Jiming Huang
0
12

eg


Monitoring support area.

(By Yann Quelenn )

• EUR/GBP is showing increasing short-term

buying interest near the weak support at 0.8899

(19/09/2017 low). However, as long as prices are

below the resistance at 0.9046 (05/09/2017 high),

the short-term technical structure is biased to

the downside 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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