EUR/GBP may finally leave its range

EUR/GBP may finally leave its range

Trade ideas

BUY 0.8660; TP1 0.8710; TP2 0.8760; SL 0.8845

SELL 0.8580; TP 0.8540; SL 0.8595

EUR/GBP had an extremely volatile month. If we look at the daily chart, we’ll see a diamond-shaped broad consolidation range. The fact that we finally got some big news about Brexit (a delay until October 31) can allow the pair to finally break out of this pattern.

Technical indicators suggest that a break to the upside seems more likely. Notice, however, that breakout trading is risky and requires thoughtful risk management. The negative pressure will return if the pair gets back below 0.8590.

EURGBP d1.png

Similar

Levels to trade EUR/USD

EUR/USD met resistance in the 1.1415 area. The pair’s advance in the recent days was quite rapid, so it might be hard for the euro to retain the bullish momentum.

NZD/CHF is in a downtrend

NZD/CHF is trading within a downtrend on D1. The currency pair went below 78.6% at 0.6450 and is likely to test levels around 0.6390/70.

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