EURGBP approaching support, watch for breakout!
EURGBP is approaching our first support at 0.8719 (Horizontal swing low support, 76.4% Fibonacci retracement, 100% Fibonacci extension). A breakout below this level might trigger a strong reaction pushing price down to our major support at 0.8681 (horizontal swing low support). Ichimoku cloud is also showing signs of bearish pressure, in line with our bearish bias.
RSI (89) is also testing its support and a breakout below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (89) is also testing its support and a breakout below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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