Friday 8 December 2017

EUR/GBP Found Some Support at 0.8690





EUR/GBP was moving to the downside but the pair found some support at 0.8690, formed a clear spinning top candlestick on the four-hour time-frame and bounced off from that level, further pushed to the upside by the fundamentals today. Currently the pair is testing the resistance at 0.8790, and a breakout above that level could lead to a further move to the upside towards the (MA)89 indicator on the four-hour time-frame which has been a consistent resistance for the pair and is at 0.8830. A breakout above that resistance level in turn could be a signal for another move to the upside towards 0.8885, which is the same indicator, but on the daily time-frame.

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