Currency Analyst since 2010

EUR/GBP: think of selling

We see a bearish pattern on the daily EUR/GBP chart. Moreover, last week’s highs in the 0.9700 area were close to the resistance line coming down from 2009 highs. As a result, it’s reasonable to think about selling the single currency. Potential entry levels lie at 0.8650 on the upside (sell limit) or at 0.8575 (sell stop). Target lies at 0.8515/00. There’s a support at 0.8590.

Chart. Daily EUR/USD

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