fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Technical Analysis for EUR/GBP  Wed Aug 14, 2013 10:17 am | |
|  Technical Analysis for EUR/GBP The pair dropped sharply yesterday below 0.8580 key support and invalidation level for yesterday's scenario, but failed to maintain the decline to rebound and close the trading session above 0.8580 and at the 50-days SMA, forming a long lower shadow candle, hinting the bullish rebound remains possible. We will continue to expect and upside rebound so long as 0.8580 is holding over daily closing basis. Support: 0.8575, 0.8550, 0.8500, 0.8470, 0.8430 Resistance: 0.8620, 0.8675, 0.8700, 0.8740, 0.8775 Recommendation Long above 0.8580, targets at 0.8630 and 0.8700. Invalidation four-hour closing below 0.8540 | |
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