EUR/GBP: Recovery builds above 200‑DMA – Societe Generale
Societe Generale analysts note that EUR/GBP has rebounded from an interim low near 0.8610 and quickly reclaimed its 200‑DMA, suggesting limited downside momentum. The cross is trying to break the upper end of its recent range, with the analysts flagging 0.8770 and the 0.8820/0.8865 November highs as upside objectives if the 200‑DMA near 0.8670 holds.
Cross eyes range break and November highs
"EUR/GBP has staged a rebound after forming an interim low near 0.8610 earlier in February."
"Although it briefly dipped below the 200‑DMA, the swift recovery above this MA signals a lack of sustained downside momentum."
"The pair is now attempting to cross the upper boundary of its recent range."
"Defence of the 200‑DMA near 0.8670 could lead to continuation in up move."
"The next objectives are located at projections of 0.8770, followed by the November highs at 0.8820/0.8865."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Recommended Articles
