EUR/GBP is holding steady and looking at the daily chart. We can see we are oversold and therefore in the not too distant future this pair is going to make a move topside.
As long as we hold above 8384, possibly 8368, we should be able to force sellers aside and take the market higher and break 8400 looking initially for 8410 then 8425/30 we may well see some profit taking here and sellers should be waiting for a quick profit.
However do not dismiss the buyers just yet. If they break above 8430 they will swipe the sellers aside and take us higher with 8465 then targeted.
Now all this depends on being able to hold 8384. If they fail and lose 8380 look for the sellers to be back in the driving seat looking for a move lower for 8368, possibly 8332, where we should base. Longs are to be instated on any decline to these lower levels.
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EUR/GBP: Holding Steady
Published 09/18/2013, 01:51 AM
Updated 07/09/2023, 06:32 AM
EUR/GBP: Holding Steady
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