EUR/GBP can get higher

EUR/GBP can get higher

2020-02-04 • Updated

The British pound is hurt by concerns that Britain would reach the end of an 11-month transition period without agreeing a trade deal with the EU. EUR/GBP formed an interim bottom in the 0.8930 area and closed above the 50-day MA at 0.8490 on Monday. If the pair breaks above the 61.8% Fibo of the decline seen in the second half of January in the 0.8515 zone, it will be able to gain to 0.8550 (78.6% Fibonacci) and 0.8590 (January and December highs).

Trade idea for EUR/GBP

BUY 0.8505; TP1 0.8550; TP2 0.8590; SL 0.8485

EURGBPH4.png

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