Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
EUR/GBP on the way to consolidate above 0.9100
2019-11-11 • Updated
EUR/GBP has made a successful rebound in demand zone at 50% (0.9004) and it’s now heading towards the 0.9125 level, at which is located the -23.6% Fibonacci retracement level. So far, the 200 SMA is setting the tone and providing the path that the pair can follow in the short-term. To invalidate this bullish scenario, EUR/GBP needs to break below the 0.8979 level, where is the 65% and it could open the doors for a testing of the 0.8957 area (78.6% Fibo zone).
RSI indicator still hovers around the 50 level, calling for a sideways structure in the short-term.
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