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 Technical Analysis for EUR/GBP

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fxpulsation



Posts : 8759
Join date : 2012-01-25

PostSubject: Technical Analysis for EUR/GBP   Thu Mar 06, 2014 10:32 am



Technical Analysis for EUR/GBP

The pair is trading within a tight range, gradually moving towards the Falling Wedge support at 0.8180. The upside move remains valid over short-term basis depending on stability above the main support at 0.8160 eying 0.8285-0.8295 attempting to breach higher toward 0.8410 then 0.8500. The pair should trade sideways to gather enough momentum to move to the upside.

Support: 0.8180, 0.8160, 0.8095, 0.8005, 0.7950
Resistance: 0.8285, 0.8320, 0.8410, 0.8465, 0.8500

Recommendation The outlook is positive for EURGBP above 0.8185 and the intraday risk-limit is below 0.8160
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