Forex Flash: EUR/GBP is a flat market which should tire around 0.8156 – RBS
Forex pairs in this Article »
EUR/GBP
FXstreet.com (Barcelona) - William Moore, Technical Markets Strategist for RBS has taken a look at EURGBP from a purely technical perspective.
He notes that it was another frustrating session for the pair yesterday as the market continues to look flat in the short term. The double top pattern on Tuesday failed to fully reach its downside target although a slight break lower was witnessed. Moore sees two short term principle levels of resistance at 0.8116 and 0.8156 and he favours selling EUR as spot approaches the later. He sees support and resistance at 0.8066/0.8007 and 0.8089/0.8156 respectively.
He notes that it was another frustrating session for the pair yesterday as the market continues to look flat in the short term. The double top pattern on Tuesday failed to fully reach its downside target although a slight break lower was witnessed. Moore sees two short term principle levels of resistance at 0.8116 and 0.8156 and he favours selling EUR as spot approaches the later. He sees support and resistance at 0.8066/0.8007 and 0.8089/0.8156 respectively.
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