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May 22 - 11:00 AM
EUR/GBP: A Short-Term Pause Likely Around 0.8835; Staying Neutral - ING
First appeared on eFXplus on May 22 - 09:15 AM

ING discusses EUR/GBP technical outlook and maintains a neutral bias on a multi-days basis.

"Further short-term gains are no surprise after prices closed above the flat EMA-200 line at 0.8742 last Friday. However, the short-term upside potential is limited with next horizontal resistance coming in around 0.8835. A short-term pause seems likely after testing this horizontal resistance before higher are possible. Long-term overhead resistance comes in around the 0.9000 area," ING notes. 

"A pull-back towards the 0.8690-0.8630 support area is possible after testing the horizontal resistance around 0.8835 and therefore we leave our rating atNeutral'," ING adds. 

Source:
ING Research/Market Commentary

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