25 Jul 2013
EUR/GBP trading near resistance
FXstreet.com (New York) - The EUR/GBP technical cross has stabilized at the 0.8630 level Thursday afternoon during US trading, following an earlier easing off its highs at 0.8647.
At the time of writing, the EUR/GBP is now settling near 0.8632, presently advancing at a rate of +0.17% above its opening during US trading. Technically speaking, the EUR/GBP will encounter resistive means at 0.8636, onto 0.8653, and finally 0.8678, calculates the Mataf.net analyst team.
EUR/GBP strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/GBP fluctuated earlier above the key support area and top of the previous sideways range among 0.8575-0.8600, and that keeps the bullish rebound scenario favored. Ultimately, a break below 0.8573 low may negate this bullish bias and reverse the short-term outlook.”
At the time of writing, the EUR/GBP is now settling near 0.8632, presently advancing at a rate of +0.17% above its opening during US trading. Technically speaking, the EUR/GBP will encounter resistive means at 0.8636, onto 0.8653, and finally 0.8678, calculates the Mataf.net analyst team.
EUR/GBP strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/GBP fluctuated earlier above the key support area and top of the previous sideways range among 0.8575-0.8600, and that keeps the bullish rebound scenario favored. Ultimately, a break below 0.8573 low may negate this bullish bias and reverse the short-term outlook.”