Forex: EUR/GBP flat around 0.8045
Forex pairs in this Article »
EUR/GBP
FXstreet.com (Barcelona) - The pair has reverted the pronounced decline after the unfavorable outcome of the EU gathering this early morning, which dragged the cross to the vicinity of the psychological support at 0.8000
Currency Strategist I.Spivak at DailyFX comments "prices are consolidating below resistance at the 23.6% Fibonacci retracement at 0.8066. A break above that targets the underside of a previously broken rising trend line set from late July (0.8080) and the 14.6% level at 0.8103. Alternatively, a push below support at 0.8006, the 38.2 retracement, exposes the 0.7950-57 area".
The pair is now losing 0.06% at 0.8042 with the next support at 0.8007 (hourly low Nov.21) ahead of 0.7970 (low Nov.13) and 0.7968 (low Nov.9).
On the upside, a breakout 0.8065 (high Nov.15) would expose 0.8075 (high Oct.31) and 0.8079 (Upper Bollinger).
Currency Strategist I.Spivak at DailyFX comments "prices are consolidating below resistance at the 23.6% Fibonacci retracement at 0.8066. A break above that targets the underside of a previously broken rising trend line set from late July (0.8080) and the 14.6% level at 0.8103. Alternatively, a push below support at 0.8006, the 38.2 retracement, exposes the 0.7950-57 area".
The pair is now losing 0.06% at 0.8042 with the next support at 0.8007 (hourly low Nov.21) ahead of 0.7970 (low Nov.13) and 0.7968 (low Nov.9).
On the upside, a breakout 0.8065 (high Nov.15) would expose 0.8075 (high Oct.31) and 0.8079 (Upper Bollinger).
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