FXStreet (Edinburgh) – The short term perspective for the cross remains bearish below the 6-month downtrend currently at 0.7324.
Key Quotes
“EUR/GBP is sitting on the .7074 support line and is currently finding some support there. Intraday rallies are indicated to terminate circa .7150 for losses to the .7057 May low and the .7015 March low”.
“Below here lies the .7000 psychological support and the .6985 6 year down channel”.
“Rallies will find initial resistance at .7214, the 55 day ma. This guards the .7324 resistance line and the tougher resistance at .7385/91 – this is the March high and the 78.6% retracement”.
(Market News Provided by FXstreet)