17 Mar 2015
EUR/GBP door open for a test of 0.7004 – RBS
FXStreet (Edinburgh) - Dmytro Bondar, Technical Analyst at RBS, sees EUR/GBP returning to the 0.7000 region in the upcoming periods.
Key Quotes
“The pair has broke below my main target of 0.7152, implying further downside to 0.7004 and 0.6885 after a bullish correction towards the former channel and 0.7390 resistance level, as the weekly 12/26/9 MACD remains bearish”.
“Therefore, I think the near-term will see a recovery somewhere to the area of 0.7300 / 0.7390 followed by a continued downside pressure for 0.7004 and ultimately 0.6885 targets”.
Key Quotes
“The pair has broke below my main target of 0.7152, implying further downside to 0.7004 and 0.6885 after a bullish correction towards the former channel and 0.7390 resistance level, as the weekly 12/26/9 MACD remains bearish”.
“Therefore, I think the near-term will see a recovery somewhere to the area of 0.7300 / 0.7390 followed by a continued downside pressure for 0.7004 and ultimately 0.6885 targets”.