STO Technical - EUR/GBP finding resistance

Thursday, 02/03/2017 | 09:48 GMT

Disclaimer

EUR/GBP is approaching the 38.2% reversion of the post-Brexit referendum rally and also the 100 day moving average, both in the 0.8585-0.8600 range. Failure to break above here would pave the way for a reversion to recent lows around the 50% retracement at 0.8400.

Gold prices are sitting just below the 50% retracement of the sell-off recorded in the second half of 2016. mid-month highs around $1237.5 are likely to provide intermediate support before we see a move lower to January highs at the 38.2% retracement.

This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice.

STO Review

Source: https://www.stofs.com/en/newsroom/entry/TECHNICAL/eurgbp-finding-resistance

Disclaimer

!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}