EUR/GBP: Rebound strengthens beyond 200‑DMA – Societe Generale
EUR/GBP Attempts to Break Out and Target November Peaks
According to Societe Generale analysts, EUR/GBP has bounced back from a temporary low around 0.8610, swiftly moving above its 200-day moving average. This recovery indicates that downward pressure remains limited.
The currency pair is currently seeking to surpass the upper limit of its recent trading range. If the 200-day moving average near 0.8670 continues to provide support, analysts anticipate further upward movement.
- Initial target: 0.8770
- Further upside: November highs at 0.8820 and 0.8865
This article was produced with assistance from an AI tool and reviewed by an editor.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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