31 Jul 2013
EUR/GBP establishing fresh highs
FXstreet.com (New York) - The EUR/GBP technical cross surged higher during US trading, refusing to slow its advance as it notches fresh highs Wednesday.
EUR/GBP strategic bias
Technically speaking, the EUR/GBP is now operating at 0.8748, securing a steadfast gain of +0.46% above its opening. After breaking above the 0.8726 resistance, the Mataf.net analyst team calculates short-term resistances for the EUR/GBP at 0.8749 (session high), and 0.8791.
According to Karen Jones, an analyst at Commerzbank, “The EUR/GBP charted a strong session yesterday and is well placed to tackle the 0.8710/14 resistance (recent high and also the 2008-2013 resistance line) – following the directional move seen yesterday this is now exposed. Above here would push the 0.8793/0.8814 highs seen earlier in the year back into the picture.”
EUR/GBP strategic bias
Technically speaking, the EUR/GBP is now operating at 0.8748, securing a steadfast gain of +0.46% above its opening. After breaking above the 0.8726 resistance, the Mataf.net analyst team calculates short-term resistances for the EUR/GBP at 0.8749 (session high), and 0.8791.
According to Karen Jones, an analyst at Commerzbank, “The EUR/GBP charted a strong session yesterday and is well placed to tackle the 0.8710/14 resistance (recent high and also the 2008-2013 resistance line) – following the directional move seen yesterday this is now exposed. Above here would push the 0.8793/0.8814 highs seen earlier in the year back into the picture.”