EUR/GBP extends breakout above multi-month range – Société Générale
The post EUR/GBP extends breakout above multi-month range Société Générale appeared com. EUR/GBP has continued higher after breaking out of its multi-month consolidation in October, setting an interim peak near 0. 8820, Société Générale’s FX analysts note. Support at 0. 8740/0. 8710 key for EUR/GBP trend “EUR/GBP broke out above the upper boundary of its multi-month consolidation in October resulting in extension of the uptrend. It has established an interim high near 0. 8820. A brief pause is taking shape; upper limit of previous range and the 50-day moving average at 0. 8740/0. 8710 could be an important support zone.” “Defence of the moving average may lead to continuation in up move. Beyond 0. 8820, the next projections are located at 0. 8870/0. 8910.” Source:.
