EURGBP Technical Analysis Midterm Short Opportunity
Our short-term signal has reached the first target.
And we have published our midterm trade plan for EURGBP on March 29th.
-Positive Brexit news
-Hawkish BOE and strong rate hike expectations on May.
Those factors are putting EURGBP under a bearish pressure.
Critical 0.87200 support has been broken. Cup and Handle formation is almost completed.
We expect EURGBP to meet the following levels as long as it makes daily closings below 0.87400:
Today’s Key Levels are:
On the downside: 0.87120 0.86970 0.86820
On the upside: 0.87400 0.87580 0.87730
Any possible pullbacks can be used as selling opportunities.
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
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EURGBP : Involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility