- This week we have seen a stable movement of the Euro against the British Pound with a slight upward trend supported by the EMA200 moving average.
- The euro against the Swiss franc has been declining since the beginning of the week until this morning, where it found support at the 0.95200 level.
EURGBP chart analysis
This week we have seen a stable movement of the Euro against the British Pound with a slight upward trend supported by the EMA200 moving average. During the Asian trading session this morning, the pair fell to the 0.85550 level. They got new support there. We managed to stay there and started a bullish consolidation to a new weekly high at 0.85704.
After its formation, the pair retreats to the 0.85600 level and is looking for new support. We could soon find new support and start looking for a new weekly high. Possible higher targets are 0.85750 and 0.85800 levels. A drop to 0.85550 will force us to retest the EMA200 support. If we do not get support, we slide down and fall under downward pressure to a new low. Possible lower targets are 0.85500 and 0.85450 levels.
Chart analysis of the euro against the Swiss franc
The euro against the Swiss franc has been declining since the beginning of the week until this morning, where it found support at the 0.95200 level. We are receiving support from the EMA200 in that area and are starting to recover. We rose to the 0.95450 level with two strong pulses, forming a new two-day high and breaking above the previous bearish pattern.
After that, the pair rebounds to the 0.95300 level in search of a new foothold from which to start the upward trend. Possible higher targets are 0.95500 and 0.95600 levels. We need a bounce to this morning's support and the EMA200 for a bearish option. A break below indicates a pullback and a drop to a new weekly low. Possible lower targets are 0.95100 and 0.95000 levels.
