27 Jun 2013
EUR/GBP's advance finds resistance at 0.8560
FXstreet.com (San Francisco) - After rising around 70 pips from the 0.8490 in the European session to reach 1-week high at 0.9560, the EUR/GBP seems to have found resistance at this level and the pair has been trading in consolidation mode just above 0.8540.
Currently the EUR/GBP is trading around 0.8550, 0.60% positive on the day. However, the short term perspective is slightly bearish in the 15-minute chart according to the FXstreet.com trend index. Indicators such as the CCI and Momentum are pointing lower while the MACD and Stochastic are neutral.
Levels for the EUR/GBP
Resistances are here at 0.8560, 0.8600 and 0.8640. Supports are at 0.8540, 0.8515 and 0.8464. The obvious near term targets for the pair are the June highs slightly below 0.8600 to meet April highs and March gaps in the daily calendar. Otherwise, 0.8400 supports a sideways channel.
Currently the EUR/GBP is trading around 0.8550, 0.60% positive on the day. However, the short term perspective is slightly bearish in the 15-minute chart according to the FXstreet.com trend index. Indicators such as the CCI and Momentum are pointing lower while the MACD and Stochastic are neutral.
Levels for the EUR/GBP
Resistances are here at 0.8560, 0.8600 and 0.8640. Supports are at 0.8540, 0.8515 and 0.8464. The obvious near term targets for the pair are the June highs slightly below 0.8600 to meet April highs and March gaps in the daily calendar. Otherwise, 0.8400 supports a sideways channel.