EUR/GBP: Ongoing rebound could persist towards 0.8720/0.8750 – SocGen EURGBP Technical Analysis Banks
EUR/GBP rally extends to 0.8670. Economists at Société Générale analyze the pair’s technical outlook.EUR/GBP briefly breached June low however the downward momentum is dissipating as highlighted by a quick bounce from the lower limit of a multi-month channel near 0.8500. This is also denoted by daily MACD which has been posting positive divergence.
The pair has crossed above the 50-DMA; ongoing rebound could persist towards the upper limit of the channel near 0.8720/0.8750; this could be an important hurdle. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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