Chart of the Day – EUR/GBP of 13.3.2014 Graph

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10-17-14 09:32:11

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Chart of the Day – EUR/GBP of 13.3.2014 Graph

An incredible turnaround for the monetary unit within the past few days has seen the downtrend that has been in situ since July broken, however, there has conjointly been an opportunity on top of the key resistance at £0.8350 that has completed a base pattern. This currently suggests any recovery towards consequent key resistance at £0.8466 that is additionally around wherever the five hundred Fibonacci retracement of the massive July to Gregorian calendar month sell-off comes in at £0.8463. Momentum indicators still improve and moving averages also are turning higher. The intraday hourly chart shows very little sign of the recovery subsiding, with momentum indicators firmly in optimistic configuration and a series of upper lows being supported by the rising 555 hour moving average (currently £0.8347).

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