Forex: EUR/GBP returns to yesterday’s high of 0.8592

on Jul 2, 2013
Listen Tuesday July 02nd_: Yesterday, the price scored a rise to a high of 0.8592. Today’s trading range has been located between 0.8564 and 0.8592 and at the moment the pair is changing hands at 0.8585. The level of 0.8600 has not been touched since 17 April and has turned into a strong resistance and supply area.

If 0.8600 is breached, the pair should increase towards the 0.8700 first and 0.8800 next. In the opposite scenario the EUR/GBP would continue trading within the range 0.8600 to 0.8468.
In the event of a rise, the upward movement will be supported by the price floating above the MA89 and MA200 on the 1H, 4H and daily charts.
Resistance levels: 0.8580, 0.8595 and 0.8635.
Support levels: 0.8565, 0.8550 and 0.8530.
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