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EUR/GBP - Slow Increase

By: MIG Bank | Wednesday, December 21, 2016

EUR/GBP's bullish pressures are increasing and the pair has reached 0.8400. Hourly support area is given from 0.8333 (former support 06/09/2016 low) and 0.8304 (05/12/2016 low) while hourly resistance can be found at 0.8426 (16/12/2016 high).

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 far above from its 200 DMA. Strong resistance can be found at 0.9500 psychological level.

Daily Technical Report

 

Author: MIG Bank

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