EUR/GBP bounces from 0.8440 low (Barcelona) – Despite steadily edging to the downside in early trading over Europe, the EUR/GBP has bounced around 40 pips from a daily low in 0.8440. The pair has made is back as far as 0.8480, yet found firm resistance and has since settled slightly underneath.

Currently the EUR/GBP lingers around 0.8470 where it shows slightly bullish tendencies around mid-day over Europe. Still vulnerable to the downside, immediate support is listed at 0.8433 (Daily Low Dec 14), 0.8377 (21 Day Lower Bollinger) and 0.8349 (Daily Low Dec 13). To the upside, resistance is placed at 0.8485 (200-Day MA), 0.8499 (21-Day MA) and 0.8541 (Daily High Jan 4).


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The Art&Science of Trading Gold
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