(13 NOVEMBER 2017)EUR / GBP:Strong downside risk.

(13 NOVEMBER 2017)EUR / GBP:Strong downside risk.

13 November 2017, 12:51
Jiming Huang
0
10
egh

Strong downside risk.

(By Yann Quelenn)

• EUR/GBP lies into a symmetrical triangle. 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 0.8733

(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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