(21 NOVEMBER 2017)EUR / GBP:Wide-open for further downside.

(21 NOVEMBER 2017)EUR / GBP:Wide-open for further downside.

21 November 2017, 12:50
Jiming Huang
0
13

eg

Wide-open for further downside.

(By Yann Quelenn)

• EUR/GBP was rejected from rising trendline

showing an aggressive reversal. Hourly support

is given at a distance at 0.8733 (01/11/2017 low).

Next resistance is located at 0.9014 (27/10/2017

high). Expected to go lower.

• 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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