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MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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EUR/GBP - Continued Short-Term Bullish Momentum

EUR/GBP continues its increase after breaking the symmetrical triangle. Hourly resistance given at 0.8545 (14/09/2016 high) has been broken. Key resistance lies at 0.8725 (16/08/2016 high) while hourly support can be found at 0.8535 (19/09/2016 low). The pair is still holding around 0.8500. Expected to bounce back lower.

In the long-term, the pair is currently recovering 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 0.8815 (25/02/2013 high).

Daily Technical Report

 

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