mardi 10 mars 2015
EUR/GBP and EUR/USD Continue to Bleed; Long-term Charts
Posted on 18:21 by nice news
The EUR/GBP has been bleeding consistently in 2015. After clearing 0.7750, which was around the 2012 low, EUR/GBP has accelerated to lows not seen since late 2007, almost 8-years ago! In the monthly chart, we can see that the decline started from the 2008 and historic high near 0.98. The bear run has picked up speed in the past 3-4 months. Note a multi-year consolidation between 0.6534 and 0.7255. Price has already broken below the top of this range, and is poised to push towards the 0.6550 area.
The monthly RSI is becoming very oversold, but there seems to be strong momentum downwards, so it might not be a good idea to “catch a falling knife”.
Even if we do have a pullback, we have to start looking at 0.7255 as a potential resistance.
The monthly RSI is becoming very oversold, but there seems to be strong momentum downwards, so it might not be a good idea to “catch a falling knife”.
Even if we do have a pullback, we have to start looking at 0.7255 as a potential resistance.
EUR/GBP and EUR/USD Continue to Bleed; Long-term Charts
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