EURGBP London set up idea
With EURGBP dropping down over the last few days we could be seeing a retrace from the bullish move last week back below the 50% area ready to move up again.
We have seen the strength in GBP with the interest rate rise pushing this pair back down.
I will be looking...
EURGBP slumped to a fresh 1.5 year low of 0.8421 on Monday morning. At the time of writing, the currency pair rebounded a little from the Asian session lows but remains at depressed levels. On Monday, the Euro slightly retreat from last week highs while the British Pound holding the gains...
The pair plunged to a fresh year low of 0.8640. If the price won't break below 0.8600 we may see a pullback to 0.8690 then 0.8720. On the other side break below 0.8630, the next level to watch 0.8600/0.8580.
EUR/GBP trading above 3- month high, 0.9160. Moving ahead, the GBP traders will closely monitor the fresh updates from UK/EU trade negotiations.
The important level to watch this week:
Support: 0.9080 and 0.9000
Resistance: 0.9190 and 0.9280
Well well well. A look back at EURGBP and i have been saying for a long time this is going down. Initially from the 0.9 area and also since xmas too. Weve been in this small wedge and its ended with a break out below the support area .
This gives us a simple rule set for a nice entry for a...
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Current Sentiment:
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If these...
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