13 May 2015
EUR/GBP downward movement to continue – Varengold
FXStreet (Barcelona) - According to the Varengold Bank Research Team, EUR fundamentals suggest the downside momentum for EUR/GBP will continue for a while.
Key Quotes
“Since 2013 the GBP was able to appreciate until the pair reached the resistance line at 0.8034 where a sideward movement begun.”
“During the last months we saw a sharp decline of the EUR versus the GBP. Especially over the course of the last couple months the EUR experienced a sharp decline and it remains to be seen whether the EUR will be able to rebound.”
“According to the indicators this downward movement may last for a while since there are no clear signs for a significant trend reversal and the fundamentals of the EUR are not very promising at the moment.”
“Support Levels around 0.7018”
“Resistance Levels around 0.7472, 0.7878, 0.8034”
Key Quotes
“Since 2013 the GBP was able to appreciate until the pair reached the resistance line at 0.8034 where a sideward movement begun.”
“During the last months we saw a sharp decline of the EUR versus the GBP. Especially over the course of the last couple months the EUR experienced a sharp decline and it remains to be seen whether the EUR will be able to rebound.”
“According to the indicators this downward movement may last for a while since there are no clear signs for a significant trend reversal and the fundamentals of the EUR are not very promising at the moment.”
“Support Levels around 0.7018”
“Resistance Levels around 0.7472, 0.7878, 0.8034”