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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 - Bearish Recovery

EUR/GBP continues to head lower since the pair has broken uptrend channel. Hourly support is given at 0.8776 (05/10/2016 low) while resistance is given at 0.9026 (20/10/2016 high). Expect to show continued bearish pressures.

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 0.9500 psychological level.

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