News

Research: Eur/gbp - Trading Strategy, Trigger Points, and Support and Resistance Levels

RBS has given the following trading strategy, trigger points, and support and resistance levels:

TRADING STRATEGY: Move stops to 0.8300 (above the 0.8280 level) target 0.8192 onto 0.8069.

TRIGGER POINTS:

0.8500 - Big important long term resistance level, 61.8% retracement from the '08 credit crunch rally

0.8223 - Downside important potentially supportive resistance level.

0.8315 & 0.8335 - the previous intraday support levels now should turn resistance

0.8280 - the short term fade level if seen intraday

SUPPORT LEVELS: 0.8223, 0.8192, 0.8069

RESISTANCE LEVELS: 0.8280, 0.8315, 0.8372

-So the 0.8280 level still looks good value as a short term intraday fade level; it is the 138.2% projection of the important initial sell off from December and has caught a lot of the recent lows and on the basis of the highs on both the 5th and 10th of April is now the resistance level to tuck stops above. So the stops from yesterday can be moved to 0.8300 giving a 20 pip margin for error and the downside targets are STILL the same - 0.8223, 0.8192 onto 0.8069.

Recommend: Forex News
 
Italy Jul Wage Inflation Mm Decrease to 0.0 % Vs Prev 0.20 %
2016-08-31 10:03:00 UTC+00 15 hours, 43 min. ago  
Views today: 744 
Japan Jul Construction Orders Yy* Decrease to -10.9 % Vs Prev...
2016-08-31 06:09:00 UTC+00 19 hours, 37 min. ago  
Views today: 709 
Eurozone Jobless Rate Remains Unchanged In July
2016-08-31 09:33:00 UTC+00 16 hours, 13 min. ago  
Views today: 773 
China Manufacturing PMIs On Tap For Thursday
2016-08-31 22:00:00 UTC+00 3 hours, 46 min. ago  
Views today: 678 
Japan Jul Housing Starts Yy* Increase to 8.9 % (fcast 7.4 %) Vs...
2016-08-31 06:08:00 UTC+00 19 hours, 38 min. ago  
Views today: 725 

Support and resistance levels

EUR/USD
GBP/USD
USD/JPY
GBP/JPY
EUR/CHF
AUD/USD
Sep 1 at 1:46 UTC