Technical Analysis

EUR/GBP Monitoring Symmetrical Triangle

Typography

EUR/GBP is consolidating after the recent collapse. The pair has broken hourly support at 0.8791 (07/11/2017 low). Resistance is located at 0.8943 (27/11/2017 high). Expected to go even lower.

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).

Author: Swissquote Bank SA Website: http://en.swissquote.com/fx
Swissquote Bank SA
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