Forex: EUR/GBP in session lows, around 0.8115
Forex pairs in this Article »
EUR/GBP
FXstreet.com (Barcelona) - The pair is now orbiting around 0.8115 on Monday, trading in session lows as the demand for the single currency remains subdued and the sterling is holding around the mid 1.6000s
According to I.Spivak, Currency Strategist at DailyFX, "prices moved lower as expected after putting in a Bearish Engulfing Candlestick patter below rising channel resistance, taking out support at 0.8154 and exposing an upward-sloping trend line barrier at 0.8097. A further push below that targets the channel bottom at 0.8029. The 0.8154 mark has been recast as near term resistance with a turn back above that aiming for the channel top at 0.8234".
EURGBP is now losing 0.25% at 0.8114 facing the next support at 0.8086 (MA55d) ahead of 0.8063 (low Dec.12) and finally 0.8061 (61.8% of 0.7961-0.8225).
On the upside, a breakout of 0.8149 (MA10d) would expose 0.8200 (hourly highs Dec.28) and then 0.8214 (Upper Bollinger).
According to I.Spivak, Currency Strategist at DailyFX, "prices moved lower as expected after putting in a Bearish Engulfing Candlestick patter below rising channel resistance, taking out support at 0.8154 and exposing an upward-sloping trend line barrier at 0.8097. A further push below that targets the channel bottom at 0.8029. The 0.8154 mark has been recast as near term resistance with a turn back above that aiming for the channel top at 0.8234".
EURGBP is now losing 0.25% at 0.8114 facing the next support at 0.8086 (MA55d) ahead of 0.8063 (low Dec.12) and finally 0.8061 (61.8% of 0.7961-0.8225).
On the upside, a breakout of 0.8149 (MA10d) would expose 0.8200 (hourly highs Dec.28) and then 0.8214 (Upper Bollinger).
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