EUR GBP upside down in the forex market
1/16/2017 8:39:00 PM
As see in the FOREX market the EUR/GBP pair was gotten merging weekly strong gap up opening to 2 month high level beyond 0.8815 handle.
At present trading around 0.8833 region, a slightly recovery move around the GBP/USD major, succeeding a retest of October flash crash lows, was seen limiting more upside for the cross.
A follow over buying interest above session top persistence near 0.8847 area has the possible to boost the cross to 0.8875 intermediate persistence ahead of an important barrier near 0.8900 round figure mark. On the downside, 0.8815 area now becomes immediate support to preserve, which if broken is probable to speed up the slide back towards 0.8767 support area, en-route 0.8737 horizontal zone.
FOREX Fundamental Analysis
Written by FxErvin