EUR/GBP is trying to base

EUR/GBP is trying to base

Trade idea

BUY 0.8905; TP1 0.8940; TP2 0.8965; SL 0.8890

Last week, EUR/GBP recovered from 0.8800 (the 61.8% Fibo retracement of the March-August advance) and 0.8835 (100- and 50-week MAs; 200-day MA). This area seems like strong support. In addition, on H4 the euro has already managed to recover above the 50- and 100-period MAs. The advance above 0.8900 will open the way for further correction up to 0.8940 (upper border of the descending channel) and 0.8965 (100-day MA). The decline below 0.8875 will make the pair retest 0.8850 and 0.8835. At these levels, it will be possible once again to consider buying. The longer-term outlook will turn negative only below 0.88.  

EURGBP.png

Similar

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

Latest news

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera