Sydney 00:00:00 Tokyo 00:00:00 London 00:00:00 New York 00:00:00
real time forex news and technical analysis
CPI y/y


EURGBP technical analysis

EURGBP Tech analysis by Simon Kazinsky on 07:18 September 26, 2014 EST

EURGBP has been on a clear downtrend since july 2013. In addition, it crossed without hesitation a multi year supporting moving average in may 2014.

The 24wks moving average has been capping timid rises on this pair since oct 2013.

Retail traders are at present long the pair.

With all this in mind shorting EURGBP appears to be the right thing to do below its 24 wks MVA presently at 0.8073.

I will flip to a long term bullish bias should the pair rises above 0.82