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EUR/GBP - Monitoring Resistance At 0.7928

By - Mar 23, 2016, 6:13 AM CDT

EUR/GBP's is still in rangy mode. Yet, the pair keeps on trading around its year-high. Hourly support lies at 0.7652 (10/03/2016 low). Next support can be found at 0.7525 (22/01/2016 low) while strong resistance is given at 0.7928 (25/03/2016 high) still stands. The technical structure suggests that the pair should show continued increase.

In the long-term, the technical structure suggests a growing upside momentum. The pair is trading well above its 200 DMA. Strong resistance can be found at 0.8066 (10/09/2014 high).

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