EUR/GBP: Upside Potential Limited To 0.8630-0.8720; Sell Into Rallies – ING

Mar 07,2019 07:56   Source:Forex Crunch

The “Brexit cross” is struggling with, well, Brexit, and uncertainty about euro-zone growth. What’s next?

Here is their view, courtesy of eFXdata:

ING discusses EUR/GBP technical outlook and maintains a bearish bias on a multi-day basis.

“Prices are consolidating within the downtrend after making a low at 0.8529 last week. The upside potential is limited after the long-term trend change with overhead horizontal resistance coming in between the 0.8630-0.8690 resistance area and the steep falling trend line around the 0.8720 level,” ING notes.

We recommend selling the rallies as a test of the solid horizontal support area 0.8340-0.8265 should be expected,” ING adds.

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The post EUR/GBP: Upside Potential Limited To 0.8630-0.8720; Sell Into Rallies – ING appeared first on Forex Crunch.



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