EURGBP is approaching its resistance at 0.8851 (100% Fibonacci extension, 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where could potentially react off, causing it to fall to its support at 0.8731 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support). We do have to be cautious of the intermediate support at 0.8787 (23.6% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching resistance at 97% where a corresponding reversal is expected. We have also identified a bearish divergence with price which contributes to our bearish bias
Stochastic (89, 5, 3) is approaching resistance at 97% where a corresponding reversal is expected. We have also identified a bearish divergence with price which contributes to our bearish bias
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.