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EURGBP






3/16/2016 2:59:21 AM

EURGBP breaches a critical resistance - Technical Analysis - 16-03-2016



EURGBP kept rising in the short term with the overall guidance of the main upward trend in the medium and short terms along the trend line, succeeding in breaching the resistance of 0.7845 with the positive support of the SMA50, while noting relative power indicators have reached extremely overbought levels; therefore we expect sideways trading in the coming intraday levels trading as the pair tries to vent off that overbought saturation.

Therefore we expect more gains to come for the pair in the short term, targeting the pivotal resistance at 0.7920.


Target
Risk


Support
Resistance


Trend Bullish

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