Back
26 Jan 2015
EUR/GBP sees a technical recovery
The EUR/GBP pair is witnessing a sharp technical recovery from the February 2008 low of 0.7405 levels, after being oversold as per the indicators on the daily and the Intraday charts.
The pair currently trades 0.21% higher at 0.7486 levels, after having recovered from the low of 0.7405 seen earlier today. The daily RSI was oversold at 22.50 levels, while the it formed a bullish divergence on the hourly charts. Consequently, the pair recovered losses to trade higher at 0.7486 levels. Moreover, the EUR is witnessed a technical recovery after being sold-off to an 11-year low against the USD on concerns of Grexit.
EUR/GBP Technical Levels
The immediate resistance on the hourly chart at 0.7515, above which the pair could test 0.7581 levels. Meanwhile, support is seen at 0.7450 and 0.7402 levels.
The pair currently trades 0.21% higher at 0.7486 levels, after having recovered from the low of 0.7405 seen earlier today. The daily RSI was oversold at 22.50 levels, while the it formed a bullish divergence on the hourly charts. Consequently, the pair recovered losses to trade higher at 0.7486 levels. Moreover, the EUR is witnessed a technical recovery after being sold-off to an 11-year low against the USD on concerns of Grexit.
EUR/GBP Technical Levels
The immediate resistance on the hourly chart at 0.7515, above which the pair could test 0.7581 levels. Meanwhile, support is seen at 0.7450 and 0.7402 levels.