Friday, May 29, 2015

Possible bearish bounce on the EUR/GBP

The Euro has been strengthening today versus the Pound, but once it got to its 200 period exponential moving average on the 4 hour chart, it stopped there. There are two factors that could make the price bounce to the downside from this zone. First we have the 200 EMA and we also have the 0.7200 round number level in the same zone. However, if there is a breakout to the upside of the area, then the bullish momentum may increase.


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