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Forex technical analysis: EURGBP tests resistance. Look for a slowing of the surge.

Discussion in 'Technical Analysis' started by ForexLive, Nov 6, 2015.

  1. ForexLive

    ForexLive Forum Member

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    The 200 hour MA and 50% is being tested The EURGBP has surged on the dovish BOE, but the pair is approaching a key resistance area against the 50% retracement of the move down from the October 28 high along with the 200 hour moving average (green line in the chart below). Those levels come in at 0.7145 and 0.7152, respectively. the area also corresponds with higher lows and highs going back to October 28/29 The price high today comes in at 0.71488 currently.

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