Back
14 Mar 2014
EUR/GBP ends week above 0.8350
FXStreet (Córdoba) - The EUR/GBP rose for the second week in a row and finished above 0.8350 posting the highest weekly close since December of last year. On Friday the price reached a fresh 2014 high at 0.8380 but then pulled back finding support around 0.8330. The Pound was among the worst performers during the week and finished lower across the board.
EUR/GBP technical outlook
The EUR/GBP broke key resistance levels and changed the bias from bearish to bullish in four weeks, consolidating in the last days above 0.8300. The decline that started in July 2013 found support at 0.8150 where the Euro stabilized. In the last two weeks moved sharply to the upside, breaking a long term downtrend line.
To the upside, immediate resistance levels lie at 0.8380 and above here at 0.8400. To the upside support levels could be located at 0.8300 and below here at 0.8220/30 and 0.8150.
EUR/GBP technical outlook
The EUR/GBP broke key resistance levels and changed the bias from bearish to bullish in four weeks, consolidating in the last days above 0.8300. The decline that started in July 2013 found support at 0.8150 where the Euro stabilized. In the last two weeks moved sharply to the upside, breaking a long term downtrend line.
To the upside, immediate resistance levels lie at 0.8380 and above here at 0.8400. To the upside support levels could be located at 0.8300 and below here at 0.8220/30 and 0.8150.