Forex: EUR/GBP hovering over 0.8050
Forex pairs in this Article »
EUR/GBP
FXstreet.com (Barcelona) - The pair is now trading in the mid 0.8000, as the risk appetite is now gathering pace in the markets, sustaining a better mood in both the sterling and the single currency.
"Prices broke support at 0.8066, the 23.6% Fibonacci retracement, exposing the 38.2% level at 0.8006. A further push below that targets the 50% level at 0.7957. The 0.8066 mark has been recast as near term resistance. A reversal above that initially aims for the 14.6% Fib. at 0.8103", suggests the analyst I.Spivak at DailyFX.
At the moment, the pair is up 0.11% at 0.8046 with the next resistance at 0.8081 (high Dec.7) followed by 0.8092 (MA10d) and finally 0.8100 (psychological level).
On the downside, a break below 0.8035 (low Dec.10) would open the door to 0.8032 (61.8% of 0.7961-08147) and then 0.8007 (low Nov.21).
"Prices broke support at 0.8066, the 23.6% Fibonacci retracement, exposing the 38.2% level at 0.8006. A further push below that targets the 50% level at 0.7957. The 0.8066 mark has been recast as near term resistance. A reversal above that initially aims for the 14.6% Fib. at 0.8103", suggests the analyst I.Spivak at DailyFX.
At the moment, the pair is up 0.11% at 0.8046 with the next resistance at 0.8081 (high Dec.7) followed by 0.8092 (MA10d) and finally 0.8100 (psychological level).
On the downside, a break below 0.8035 (low Dec.10) would open the door to 0.8032 (61.8% of 0.7961-08147) and then 0.8007 (low Nov.21).
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