EUR/GBP signals more gains to come - Technical Analysis - 21-01-2016
EUR/GBP kept gaining ground in the short and medium terms, with the pair settling above the support of 0.7609, representing the ratio 61.8% of Fibonacci retracement levels for a descending wave in the long term (from 0.8038 to 0.6915), with the ongoing positive support of the SMA50, and the overall dominance of the main upward trend in the medium and short terms.
Therefore, we reaffirm our positive outlook for the pair, targeting the resistance of 0.7773, representing the ratio 76.4% of the same retracement levels.
Trend
Bullish