EURGBP currency pair can be expected to fall further toward the next support level 0.8545, which has been reversing the price from the middle of March.
– EURGBP reversed from resistance level 0.8575
– Likely to fall to support level 0.8545
EURGBP currency pair recently reversed down from the key resistance level 0.8575, which has been reversing the pair from the start of February. The resistance level 0.8575 was strengthened by the upper daily Bollinger Band and by the 38.2% Fibonacci correction of the previous downward impulse from the end of December. Given the clear daily downtrend, EURGBP currency pair can be expected to fall further to the next support level 0.8545.
Given the strong daily downtrend, and the bullish sentiment affecting the sterling today, EURGBP currency pair can be expected to fall further toward the next support level 0.8545, which has been reversing the price from the middle of March.
The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.
The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.
