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EUR/GBP nearing important resistance levels - SocGen

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Research Team at Societe Generale, suggests that after a steady rebound since last year, EUR/GBP is now nearing important resistance levels.

    Key Quotes

    “It is testing 50 month MA and, more importantly, close to a multiyear descending channel limit at 0.80/0.81, also a 61.8% retracement from 2013 highs. Timing ratios point to a pause in up moves as ongoing recovery is now about to complete a typical seven month to one year time period which finalized previous rebounds. Monthly RSI is now closing in on a graphical ceiling which suggests only a move beyond 0.80/0.81 would signal an extension in recovery.”
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