(06 NOVEMBER 2017)EUR / GBP:Bouncing lower.

(06 NOVEMBER 2017)EUR / GBP:Bouncing lower.

6 November 2017, 12:57
Jiming Huang
0
11

eg


Bouncing lower.

(By Yann Quelenn)

• EUR/GBP is consolidating after the sharp

increase. As long as prices are below the

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

technical structure is biased to the

downside. Hourly support is given at a distance

at 0.8733 (01/11/2017 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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