EURGBP has bounced off major support at 0.8689 (Fibonacci extension, multiple horizontal swing low support) and it has also broke out of a recent descending resistance line signalling that we could be seeing more bullish momentum. Price could rise up to our next major resistance at 0.8847 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension).
Stochastic (89,5,3) is bouncing nicely off our major support at 3.8% and has good upside potential for our rise.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is bouncing nicely off our major support at 3.8% and has good upside potential for our rise.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results