(04 DECEMBER 2017)EUR / GBP:Monitoring symmetrical triangle

Monitoring symmetrical triangle.

(By Yann Quelenn)

• EUR/GBP is consolidating after the recent

collapse. The pair has broken hourly support at

0.8791 (07/11/2017 low). Resistance is located at

0.8943 (27/11/2017 high). Expected to go even

lower.

• In the long-term, the pair has largely recovered

from recent lows in 2015. The technical structure

suggests a growing upside momentum. The pair

is trading above from its 200 DMA. Strong

resistance can be found at 0.9500 (psychological

level).