How to trade EUR/GBP?

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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