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EUR/GBP moves off highs, but still strongly up

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - EUR/GBP eased slightly from 3-month highs as the pound took a breather following a sharp selloff suffered over the last sessions.

    EUR/GBP reached its highest level since mid-October at 0.7469 as the pound was underperforming. However, EUR/GBP trimmed gains during the New York session, but with the downside contained by 0.7425 it was confined to a range. At time of writing, the pair is trading at 0.7445, still up 0.81% on the day.

    EUR/GBP levels to consider

    In terms of technical levels, immediate resistances are seen at 0.7469 (Jan 7 high), 0.7492/0.7500 (Oct 13 high/psychological level). On the other hand, supports could be found at 0.7360 (Jan 7 low) and 0.7319 (20-day SMA).
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