19 Jul 2013
EUR/GBP stabilizes above 0.8600 level
FXstreet.com (New York) - The EUR/GBP technical cross has spent much of Friday rallying off an earlier low of 0.8589, having stabilized above the 0.8600 region.
In these moments, the EUR/GBP is entrenched in positive territory, now operating at 0.8613 during US trading. Technically speaking, the EUR/GBP remains capped by resistances at 0.8637, ahead of 0.8665, and 0.8683, notes the Danske Research Team.
EUR/GBP strategic bias
According to Karen Jones, an analyst at Commerzbank, “The EUR/GBP charted a key day reversal from 0.8710 earlier this week and so far dropped to 0.8600. This level, together with 0.8597 (May high), should offer support today. Failure here will imply a slide back to the 0.8501 (3-month uptrend).”
In these moments, the EUR/GBP is entrenched in positive territory, now operating at 0.8613 during US trading. Technically speaking, the EUR/GBP remains capped by resistances at 0.8637, ahead of 0.8665, and 0.8683, notes the Danske Research Team.
EUR/GBP strategic bias
According to Karen Jones, an analyst at Commerzbank, “The EUR/GBP charted a key day reversal from 0.8710 earlier this week and so far dropped to 0.8600. This level, together with 0.8597 (May high), should offer support today. Failure here will imply a slide back to the 0.8501 (3-month uptrend).”