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18 Mar 2013
Forex: EUR/GBP testing resistances at 0.8563/65
FXstreet.com (Barcelona) - The EUR/GBP has pared its losses nicely Monday during American trading, having put the overnight plunge surround Cyprus in the rear-view mirror. In these moments, the pair has recovered the mark of 0.8563/65, testing calculated support, having already risen +0.32% thus far.
ICN.com analysts point to resistances at 0.8560, onto 0.8575, and finally the 0.8600 level. Conversely, a movement lower will result in the EUR/GBP meeting support at 0.8535, then 0.8515, and finally 0.8495.
“The EUR/GBP pushed higher, retesting the 0.8570 neckline, which activates a bearish scenario. Ultimately, holding below 0.8610 is necessary for this scenario to remain intact.” warns the ICN.com analyst team.
ICN.com analysts point to resistances at 0.8560, onto 0.8575, and finally the 0.8600 level. Conversely, a movement lower will result in the EUR/GBP meeting support at 0.8535, then 0.8515, and finally 0.8495.
“The EUR/GBP pushed higher, retesting the 0.8570 neckline, which activates a bearish scenario. Ultimately, holding below 0.8610 is necessary for this scenario to remain intact.” warns the ICN.com analyst team.