by Thu, 02 Dec 2010 21:31:00 +0100
Forex: EUR/GBP rises to 0.8490, 3-day high
FXstreet.com (Córdoba) – The Euro is rising on Thursday for the second day in a row against the Pound extending its recovery from 0.8330. EUR/GBP peaked at 0.8490, the highest level in three days. Afterwards pulled back but managed to hold above 0.8460.
In the last two sessions the Euro trimmed weekly losses and since the beginning of December it has risen 150 pips after suffering a decline of almost 400 pips during November.
To the upside, immediate resistance levels lie at 0.8490 and above at 0.8515 (weekly high) and 0.8550 while support levels could be located at 0.8460 and below at 0.8390 (session low) and 0.8330 (Dec 1 low).
| Technical Analysis (2010-12-02 20:15 GMT) | |
|---|---|
EUR/GBP 0.84759/0.8477 - O: 0.8518 H: 0.8523 L: 0.8511 C: 0.8516 | |
| Trend | R3: 0.8520 |
 | R2: 0.8499 |
| R1: 0.8478 | |
| S1: 0.8432 | |
| S2: 0.8453 | |
| S3: 0.8474 | |
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