EURGBP reacted off our first resistance at 0.8782 (horizontal swing high resistance, 61.8% Fibonacci retracement) and price might potentially fall to our major support at 0.8713 (horizontal swing low support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension).
RSI (34) is also approaching our resistance and a reaction off this level might be a good precursor for a further potential drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (34) is also approaching our resistance and a reaction off this level might be a good precursor for a further potential drop in price.
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