EURGBP Faces Corrective Recovery Threats On Price Rejection

14th October 2018 Off By binary
EURGBP Faces Corrective Recovery Threats On Price Rejection

By algo investing

EURGBP Faces corrective recovery threats on price rejection. This is coming on back of the reversal of earlier losses for the week. A follow through higher is now expected in the new week. Support stands at the 0.8750 level where a violation will turn focus to the 0.8700 level. A break will aim at the 0.8650 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. Resistance resides at the 0.8850 level where a violation if seen will turn risk towards the 0.8900 level. Further up, resistance comes in at 0.8950 level followed by the 0.9000 level. All in all, EURGBP remains biased to the upside on correction.

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