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Old 12-08-2016, 09:02 AM   Nav to Top 
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Technical analysis of the currency pair EUR/GBP on 08/12/2016. The daily chart

General analysis.
On Wednesday 08/12/16 currency EUR / GBP pair has closed higher by almost 70 points and now the price is located at the level of 0.8516.

Price has not been able to go below 0.8370 support by forming a rebound from this level.

A few months ago the price has already been successfully beat off from support level 0.8370 which has given rise to the medium-term uptrend. After obtaining several signals from other tools and indicators we can confidently can expect the beginning of growth now also.

Stochastic indicator is in the neutral zone but shows a clear upward trend.

Yesterday's daily candle with a large white body indicates the strength of buyers and likely confirm the formation of the bottom at the level of 0.8370.

Next few days
Total long-term trend for the EUR / GBP pair is still upward and now in the chart formed a favorable situation for opening long.

The nearest resistance level for the prices serves mark 0.8700 near which we recommend placing orders for take profit.
After the price breaks the level of 0.8700 the next upside target will be the 0.8850.

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