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16 Jul 2013
EUR/GBP surrenders 0.8700 level
FXstreet.com (New York) - The EUR/GBP technical cross eased back below the 0.8700 level, following an earlier peak at 0.8710 (intraday high) Tuesday.
In these moments, the EUR/GBP is still trading positively, albeit at 0.8688, still up a robust +0.46% during US trading. A short-term rise in the EUR/GBP will first need to scale resistances at 0.8703, 0.8719, 0.8745, and ultimately 0.8793, notes the Danske Research Team.
EUR/GBP strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/GBP headed higher towards 0.8700 level earlier today, as a prolonged break above the 0.8700 region may ultimately confirm further upside towards our next targets at 0.8740 and 0.8800.”
In these moments, the EUR/GBP is still trading positively, albeit at 0.8688, still up a robust +0.46% during US trading. A short-term rise in the EUR/GBP will first need to scale resistances at 0.8703, 0.8719, 0.8745, and ultimately 0.8793, notes the Danske Research Team.
EUR/GBP strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/GBP headed higher towards 0.8700 level earlier today, as a prolonged break above the 0.8700 region may ultimately confirm further upside towards our next targets at 0.8740 and 0.8800.”