FXStreet Insights Team
04 Apr @ 11:31 (GMT+0)
EUR/GBP: Above 0.8510/0.8530, a larger upside is likely – Societe Generale
EUR/GBP has crossed above the 200-DMA resulting in a steep up move, Societe Generale's FX analysts report.
Defence of 0.8375 is crucial for persistence in uptrend
"It is attempting a breakout from a multi-month consolidation. Upper limit of the descending channel drawn since 2023 at 0.8510/0.8530 is next potential resistance zone. If the pair establishes above this hurdle, a larger upside is likely."
"Next objectives could be located at projections of 0.8575 and last August high at 0.8625/0.8650. Defence of the MA at 0.8375 will be crucial for persistence in uptrend."
Forex News
Keep up with the financial markets, know what's happening and what is affecting the markets with our latest market updates. Analyze market movers, trends and build your trading strategies accordingly.
