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FxPro Forex Analysis: EURGBP and Silver Analysis – March 06, 2018

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The EURGBP pair has managed to hold above the 0.89000 level, which adds to the confidence that resistance above can be tested in order to achieve a breakout above 0.90000. Resistance, for now, is found at 0.89274, followed by trend line resistance at 0.89365. Major resistance is seen at 0.89550, with a falling trend line combining with that level. The 0.89816 level remains the final hurdle before 0.90000. Further on, resistance is found at 0.90316 followed by 0.90891 and 0.91433.

Support on a fall back under 0.90000 comes from the 100-period MA at 0.88956 and trend line support at 0.88900, with the next moving average in the form of the 200-period at 0.88741. A break under this support can be found at 0.88595, with 0.88477 close-by. There is then a gap until 0.88084, with a firming at the rising trend line support at 0.87949, followed by the 0.87917 level.

EURGBP 1-Hour Chart

EURGBP 1-Hour Chart

Silver

The precious metal has rebounded higher from support at 16.137 to retest the falling resistance trend line at 16.610. Should the price manage to drive higher above here the 200-period MA is located at 16.659 but firmer resistance is found at 16.753. The 16.982 level provides resistance on the approach to 17.000, with the 17.115 and 17.232 levels overhead. The 17.470 level is close to the falling resistance trend line at 17.530.

Support below comes in the form of a rising support trend line at 16.400. This is a short-term trend line, but a longer-term trend line is found at 16.298, close to the 16.300 area. The 16.137 level is the low from the 1st of March, with a drop below here creating a new low and testing 16.000. Past this level, the 15.611 level comes into play as support.

Silver 4-Hour Chart

Silver 4-Hour Chart


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