18 Jul 2013
EUR/GBP stabilizes over 0.8600 level
FXstreet.com (New York) - The EUR/GBP technical cross has been unable to pare the full extent of its losses Thursday, however this has not prevented the pair from maintaining some tepid grasp on the 0.8600 level during US trading.
At the time of writing, the EUR/GBP is now operating at 0.8610, still suffering from a loss of -0.19% off its opening, though above its previous lows of 0.8600. The pair has yet to breach support today, which is found at 0.8587, ahead of 0.8553, and finally 0.8491, notes the Mataf.net analyst team.
EUR/GBP strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/GBP resumed the bearish bias heading toward the broken resistance of the range bound as shown on chart. Price may find some support at this key level, however if broken that would signal further downside and a potential short-term bearish reversal.”
At the time of writing, the EUR/GBP is now operating at 0.8610, still suffering from a loss of -0.19% off its opening, though above its previous lows of 0.8600. The pair has yet to breach support today, which is found at 0.8587, ahead of 0.8553, and finally 0.8491, notes the Mataf.net analyst team.
EUR/GBP strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/GBP resumed the bearish bias heading toward the broken resistance of the range bound as shown on chart. Price may find some support at this key level, however if broken that would signal further downside and a potential short-term bearish reversal.”