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EURGBP






2/23/2016 3:36:58 AM

EURGBP amid positive outlook - Technical Analysis - 23-02-2016



EURGBP rose in the short term, with the overall dominance of the main upward trend in the medium and short terms, while the pair trades along the upside trend line as shown in the attached chart, finally finding a bottom to bounce off it higher in the short term, the pivotal support of 0.7740 as we expected in previous analyses, which coincides with a lean on the SMA50, giving the pair momentum that sent it up, with an influx of positive signals from relative power indicators like the Stochastic as shown below the attached chart, after forming a positive divergence that helped the pair recover as well.

Therefore we expect more gains to come for the pair, targeting the pivotal resistance of 0.7897, at which the pair recorded its last previous resistance in the short term, readying to attack it.


Target
Risk


Support
Resistance


Trend Bullish

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