Swissquote shared their daily technical report. Following the release, we look into this 29 September EURGBP Technical analysis. What has impacted this pair's movements?
29 September EURGBP caught in sideways trend
• EUR/GBP is trading sideways. Yet, the pair is facing selling pressures. As long as prices remain below the resistance at 0.8899 (19/09/2017 low), the short-term technical structure is biased to the downside. Hourly support is given at 0.8746 (27/09/2017). Resistance lies at 0.8899 (19/09/2017 high).
• In the long-term, the pair has largely recovered from recent lows in 2015. The technical structure suggests a growing upside momentum. The pair is trading above from its 200 DMA. Strong resistance can be found at 0.9500 (psychological level).
This article ‘ 29 September EURGBP Technical analysis ‘ was written by Yann Quelenn, Market Analyst at Swissquote.
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