10 Jun 2013
EUR/GBP staying on the defensive
FXstreet.com (London) - EUR/GBP is leaning to the downside again in a quiet start to the week, after some morning session bids.
Analyst teams at Commerzbank suggested that EUR/GBP last week eased back to and saw a small erosion of the 55 day ma at 0.8497. They further added that rallies will find minor resistance at 0.8538 ahead of the 0.85975 recent high.
The pair on the charts are still within the ascending trend lines support and teams at ICN.com expect positive trading on the intraday and medium term, breaching 0.8635 levels will confirm extending the expected upside move, “The initial targets reside at 0.8790, whereas achieving it requires stability above 0.8455 and 0.8345 levels”.
Levels for EURGBP
Resistances are 0.8535, 0.8600, 0.8640 (April high). Support line is 0.8465.
Analyst teams at Commerzbank suggested that EUR/GBP last week eased back to and saw a small erosion of the 55 day ma at 0.8497. They further added that rallies will find minor resistance at 0.8538 ahead of the 0.85975 recent high.
The pair on the charts are still within the ascending trend lines support and teams at ICN.com expect positive trading on the intraday and medium term, breaching 0.8635 levels will confirm extending the expected upside move, “The initial targets reside at 0.8790, whereas achieving it requires stability above 0.8455 and 0.8345 levels”.
Levels for EURGBP
Resistances are 0.8535, 0.8600, 0.8640 (April high). Support line is 0.8465.