On October 28 European Central Bank held a press conference. Inflation has hit Europe and now the time has come for more profound steps in the fight with the post-pandemic economy. What should we know to trade these events?
How to trade EUR/GBP?
2020-05-21 • Updated
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum. The euro will be capable to rise to the 0.9070/0.9090 area if it manages to overcome the resistance at 0.9000 (38.2% Fibonacci of the 2020 decline). The short-term support is at 0.8960 – only a slide below this point will switch the focus back to 0.8910 and 0.8870.
Trade ideas for EUR/GBP
BUY 0.9010: TP 0.9070; SL 0.8990
SELL 0.8950; TP 0.8910; SL: 0.8965
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