What The Charts Are Saying About EURGBP
The pair shows the priority corrective movement upward
If we look at the graph, we can see that as long as the pair is above the level of 0.72,minor support intact,further rise is expected in EUR/GBP. Rebound form 0.6935 would extend to 0.7482 resistance. Firm break will target next medium term retrenchment level at 0.77-8
The trend is patching up when traffic above the level of 0.7430, would signal the strengthening of the movement to 0.77-0.78 area
As long the cross drew support from key long term support zone of 0.6535, the current rise could indeed turn out to correct whole down trend from 0.9799 and might extend further to 38.2% retrenchment at 0.8020 area
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