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6 Aug 2013
EUR/GBP retesting session highs
FXstreet.com (New York) - The EUR/GBP technical cross has tried its best to pare its weekly losses, that already have taken the pair to the depths of 0.8618 (daily low).
EUR/GBP strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/GBP extended the bearish move, retesting the ascending trend line for the latest bullish wave. After the sharp sell-off yesterday, we may see a near-term rebound, before any new downside attempt. Meanwhile, the overall bullish bias will remain valid so long as 0.8580-support level is holding.”
EUR/GBP technical levels
With the BoE on tap tomorrow, the GBP has been one of the more interesting currencies traded Tuesday. At the time of writing, the EUR/GBP is now operating at 0.8668, having now notched a steadfast gain of +0.33% above its opening. Technically speaking, the EUR/GBP is threatening its first resistance at 0.8676, a break of which will open up additional measures of correction at 0.8699, and 0.8712, notes the Mataf.net analyst team.
EUR/GBP strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/GBP extended the bearish move, retesting the ascending trend line for the latest bullish wave. After the sharp sell-off yesterday, we may see a near-term rebound, before any new downside attempt. Meanwhile, the overall bullish bias will remain valid so long as 0.8580-support level is holding.”
EUR/GBP technical levels
With the BoE on tap tomorrow, the GBP has been one of the more interesting currencies traded Tuesday. At the time of writing, the EUR/GBP is now operating at 0.8668, having now notched a steadfast gain of +0.33% above its opening. Technically speaking, the EUR/GBP is threatening its first resistance at 0.8676, a break of which will open up additional measures of correction at 0.8699, and 0.8712, notes the Mataf.net analyst team.