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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 - Riding Downtrend Channel

EUR/GBP is riding short-term downtrend channel. Hourly support can be found at 0.8304 (05/12/2016 low) while hourly resistance is given at 0.8479 (05/12/2016). Expected to ride further lower towards 0.8400.

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

 

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