EUR/GBP looking to correct recent drop

EUR/GBP looking to correct recent drop

Bears in the EUR/GBP pair remain strong and the outlook remains bearish across the board. However, following an impulsive drop, the pair could start to retrace from the current stage, towards the 50% Fibonacci level at 0.8983. Around that area, we can expect a supply area that could take the pair to test fresh lows below 0.8773. If that happens, next target is placed at the -23.6% Fibo level in 0.8674.

RSI indicator is overbought, but still, it’s showing signs of exhaustion of the bearish trend.

EURGBPmH1.png

Similar

EUR/USD: bearish 'Harami'

The market is likely going to continue declining in the direction of the next support area in the coming hours...

eur

Popular

Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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

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