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EURGBP






2/9/2016 2:16:30 AM

EURGBP muscles through a pivotal resistance - Technical Analysis - 09-02-2016



EURGBP kept gaining ground in the short term, succeeding in breaching the resistance of 0.7740, which comes with ongoing positive pressure from the SMA50, with the overall guidance of the main upward trend in the medium and short terms along the trend line as shown in the attached chart, coinciding with a venting-off of overbought saturation that's apparent in relative power indicators.

Therefore we expect more gains to come for the pair, targeting the resistance of 0.7897.


Target
Risk


Support
Resistance


Trend Bullish

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