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EUR/GBP At Highest Point Since Early March

Published 03/16/2016, 07:33 AM
Updated 03/09/2019, 08:30 AM

EUR/GBP highest since the beginning of march

Yesterday EUR/GBP broke above resistance at 0.7840. Upward movement may reach 0.7910 and next 0.8020 if demand won't fail. However if supply wins and price returns below 0.7840, nearest supports will be located at levels: 0.7710, 0.7610.

Wider view, time-frame W1

Since November 2015 EUR/GBP is moving in uptrend and corrections are very flat. It has to be noted that in long-term (since 2008) price moves were bearish. Currently only a break above 0.8150 will be a signal of trend reversal.

Time-frame H1
EUR/GBP H1 Chart

Time-frame W1
EUR/GBP W1 Chart

Disclaimer: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

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