29 Jul 2013
EUR/GBP maintains tight consolidation
FXstreet.com (New York) - The EUR/GBP technical cross has been confined to an extremely narrow 25-pip range Monday (0.8621 – 0.8646), having now re-entered positive territory during US trading.
EUR/GBP strategic bias
Presently, EUR/GBP is now operating at 0.8639, notching a marginal advance of just +0.03% above its opening. Technically speaking, the Mataf.net analyst team calculates the next short-term resistances for the EUR/GBP at 0.8645 (session high), onto 0.8657, and 0.8677.
According to the Technical Analyst Team at ICN.com, “The EUR/GBP maintains the upside rebound after testing the support area among 0.8575-0.8600, and thus moves in line with our bullish expectations. The bullish breakout of the previous sideways range is still valid, and holding above the 0.8570 level is the main condition for the bullish scenario to remain valid.”
EUR/GBP strategic bias
Presently, EUR/GBP is now operating at 0.8639, notching a marginal advance of just +0.03% above its opening. Technically speaking, the Mataf.net analyst team calculates the next short-term resistances for the EUR/GBP at 0.8645 (session high), onto 0.8657, and 0.8677.
According to the Technical Analyst Team at ICN.com, “The EUR/GBP maintains the upside rebound after testing the support area among 0.8575-0.8600, and thus moves in line with our bullish expectations. The bullish breakout of the previous sideways range is still valid, and holding above the 0.8570 level is the main condition for the bullish scenario to remain valid.”