7 May 2015
EUR/GBP losses ahead? – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team shares the technical outlook for EUR/GBP using daily charts, noting that indicators suggest some losses might be seen in the pair.
Key Quotes
“Since January 2014 this currency pair is experiencing a strong control of the bears as it is falling below an downward Fibonacci fan. It could touch the third resistance line (61.8) two times but couldn’t strengthen its position and dropped back below it. The support line around 0.7106 stopped the fall.”
“Looking at the Stochastic one can see that it moves above the 80-line, signaling that losses might occur.”
Key Quotes
“Since January 2014 this currency pair is experiencing a strong control of the bears as it is falling below an downward Fibonacci fan. It could touch the third resistance line (61.8) two times but couldn’t strengthen its position and dropped back below it. The support line around 0.7106 stopped the fall.”
“Looking at the Stochastic one can see that it moves above the 80-line, signaling that losses might occur.”