EUR GBP rushed toward boosting in Forex market
5/26/2017 8:07:20 AM
A new surge of selling interest around the sterling raised the EUR/GBP cross to fresh 8 weeks highs near the 0.8705 handle.
Spot kept on gaining traction for the 2rd successive session and expanded its latest rising trajectory from sub-0.8403 level touched during the first half of this month.
Momentum further away the 0.8695 handle could get expanded towards 0.8727 area, above which the cross appears all set to aim towards retesting March monthly highs persistence near 0.8777 area. On the other hand, 0.8670-65 zone now appears to protect immediate weakness and is closely followed by a horizontal support near 0.8647 level.
FOREX market analysis by FxErvin.