22 May 2015
EUR/GBP: favouring the bears – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team believes the price action in EUR/GBP is supporting the bears, and a move below the key support might be expected.
Key Quotes
“The major currency pair dropped sharply this year and reached new low’s. Bull’s tried to make a turnaround and failed while the price touched the downward trendline. The price is now very close to the one’s support line which might be very important. All indicator’s turned now again to the bear’s side and may open speculation to break through the significant support.”
“Support Levels around 0.7010”
“Resistance Levels around 0.7282, 0.7482”
Key Quotes
“The major currency pair dropped sharply this year and reached new low’s. Bull’s tried to make a turnaround and failed while the price touched the downward trendline. The price is now very close to the one’s support line which might be very important. All indicator’s turned now again to the bear’s side and may open speculation to break through the significant support.”
“Support Levels around 0.7010”
“Resistance Levels around 0.7282, 0.7482”