Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/GBP finds major resistance at 0.8620, good to go long on break above

  • EUR/GBP finds major resistance at 0.8620, break above to see further gains.
     
  • Intraday bias for the pair is higher, momentum studies are bullish, RSI at 61 with scope for further upside.
     
  • The single currency stages a solid comeback ahead of ECB Draghi.
     
  • Markets now await the BOE FPC statement ahead of BOE Carney’s speech for further momentum on the GBP.
     
  • Besides, Friday’s flash manufacturing PMI reports from across the Euro area will be also closely eyed.
     
  • Major support levels - 0.8540 (cloud top), 0.8528 (10-DMA), 0.8489 (50-DMA)
     
  • Major resistance levels - 0.86, 0.8620 (trendline), 0.8631 (Sept 20 high), 0.8692 (Aug 19 high)

Recommendation: Good to go long on breakout above 0.8620, SL: 0.8540, TP: 0.87/ 0.8720
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.