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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 - Ready To Bounce Back Lower

EUR/GBP has surged but the technical structure suggests that it should be temporary. As resistance at 0.8645 holds, we do not rule out further weakness towards supports given at 0.8450 (03/01/2016 low) and at 0.8304 (05/12/2016)

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

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