• EUR/GBP could reach key resistance zone at 0.8700/0.8720 – SocGen

Noticias del mercado

19 septiembre 2023

EUR/GBP could reach key resistance zone at 0.8700/0.8720 – SocGen

EUR/GBP clears 0.8630. Economists at Société Général analyze the pair’s technical outlook.

0.8560 should cushion downside

EUR/GBP defended the trough of July near 0.8500 on the second attempt resulting in a short-term bounce. It has crossed above a steep descending trend line drawn since September 2022. 

The break denotes possibility of continuation in up move towards August peak of 0.8670 and perhaps even towards the 200-DMA near 0.8700/0.8720; this is a key resistance zone. 

Low formed last week near 0.8560 should cushion downside.

 

Enfoque del mercado
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Abrir cuenta demo y página personal
Entiendo y acepto la Política de Privacidad y estoy de acuerdo con que mi nombre y datos de contacto sean procesados por TeleTrade y utilizados para contactarme en lo referente a: