EUR/GBP could see 0.8800

The 0.8565 support remains key for EUR/GBP and while the pair remains supported at this level, the potential exists for a continuation higher that tests the 0.8800-15 region. A close back below 0.8565 is needed to see focus shift lower to  the 0.8460-70 region with the 21 day lower Bollinger band noted just below at 0.8452.

eurgbpdaoly11july

Author: Kyle Shortland

Kyle Shortland has nearly 20 years of investment management and financial markets experience and currently produces Asian FX technical analysis for MNI. Before joining MNI Kyle spent 3 years as a Foreign Exchange Analyst for Thomson-Reuters IFR Markets product. Kyle’s previous roles included tactical asset allocation and the development and management of model equity, commodities and foreign exchange portfolios for various Australian banks and funds. Kyle originally gained his experience in the FX markets as a spot trader with Colonial State Bank in Sydney Australia. Kyle holds a Masters of Applied Finance degree from Macquarie University, and a Bachelor of Commerce degree from Newcastle University.

One Comment

  1. All we are seeing in EURGBP is the fact that GBP moves faster than EUR, although I agree overall that the direction is bullish for this pair – the big swings are only caused when a selloff in USD happens and both EURUSD and GBPUSD make great moves = the divergence in EURGBP gets larger .. up if the other pairs go bareish and down if the go bullish!!! its a swing thing baby ;)

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