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9 Aug 2013
EUR/GBP trading sideways at 0.8600
FXstreet.com (New York) - The EUR/GBP technical cross has been held in a tight 25-pip consolidation Friday (0.8596 – 0.8621), seemingly stuck in stasis at the 0.8600 region during US trading.
EUR/GBP strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/GBP maintains a steady position above 0.8600 and 0.8575, sustaining the uptrend scenario we proposed earlier. We are now expecting targeting commencing primarily at 0.8740 and extending toward 0.8800 if the former is breached.”
EUR/GBP technical levels
At the time of writing, the EUR/GBP is now operating at 0.8605, now suffering a decline of -0.05% off its opening. Technically speaking, the EUR/GBP remains insulated by support at 0.8596, ahead of 0.8580, and 0.8567, which should effectively control drops in the near-term, notes the Mataf.net analyst team.
EUR/GBP strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/GBP maintains a steady position above 0.8600 and 0.8575, sustaining the uptrend scenario we proposed earlier. We are now expecting targeting commencing primarily at 0.8740 and extending toward 0.8800 if the former is breached.”
EUR/GBP technical levels
At the time of writing, the EUR/GBP is now operating at 0.8605, now suffering a decline of -0.05% off its opening. Technically speaking, the EUR/GBP remains insulated by support at 0.8596, ahead of 0.8580, and 0.8567, which should effectively control drops in the near-term, notes the Mataf.net analyst team.