EUR/GBP - Challenging The Key Support at 0.7755

By: MIG Bank | Wed, Jan 14, 2015
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EUR/GBP is challenging its strong support at 0.7755. Another strong support stands at 0.7694 (20/10/2008 low). Resistances can now be found at 0.7831 (12/01/2015 high) and 0.7875 (25/12/2014 high).

In the longer term, the major support area between 0.7755 (23/07/2012 low) and 0.7694 (20/10/2008 low) has held thus far. However, as long as prices remain below the resistance area between 0.8034 (25/06/2014 high, see also the 200-day moving average) and 0.8066, the technical structure favours a bearish bias.

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Author: MIG Bank

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