Saturday, August 2, 2014

EUR/GBP Weekly Outlook

EUR/GBP's rebound from 0.7873 extended higher last week and broke 0.7980 resistance. The development firstly confirmed short term bottoming with bullish convergence condition in 4 hours and daily MACD. Secondly, it's taken as the first sign of trend reversal. Initial bias remains on the upside this week for 0.8033 resistance.



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