Forex: EUR/GBP pressured by MACD divergence

on Jul 15, 2013
Listen Monday July 15th_: The EUR/GBP rose slightly during the Asian session today and accelerated at the start of European trading to reach the day’s high so far at 0.8664. Since then the price has retraced to be currently residing at 0.8640.

The pair is positioned above the MA89 and MA200 on the 1H, 4H, daily, weekly and monthly timeframes, which supports a bullish outlook. However, on the hourly chart a MACD (9,12,1) divergence has been forming today, supplying a downwards pressure.
Resistances: 0.8655, 0.8665 and 0.8695.
Supports: 0.8630, 0.861 and 0.8585.



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