EURGBP was trading within a channel
EURGBP
After reaching the September High around 0.93000 which is a key psychological level and got some rejection due to the Strong bidding of GBP as the start of the month the economic activity is slightly rebounded as expected. Though the number of coronavirus cases are raised the United kingdom has reiterate there will be no general lockdown and in turn localized approach will be made to curtail the virus infection
EURGBP currently trading in a downtrend channel which may turn as larger bullish flag if the upside trend line was broken. It has felled towards 0.90400 which is comes around 61.8 % Fibonacci retracement level and find some buyers and moved towards the trend line which is going through the channel. Which is acting as a barrier for the bull
The Fundamental factors will remain influence this pair rather than technical factors. As the Deadline for BREXIT is nearing the from today onwards there is series of negation's are planned. Kindly have a eye of Positive/Negative BREXIT headlines
We can expect the price will fell after touching of the upside trend line (Expected level-0.91500) and the potential target would be around 0.90000
Currently 200 Exponential moving average is holding as support and 50,100 EMA is acting as resistance for the Bull. In Bollinger bands the upside band is coordinating with Upside trend line
RSI is bounced from 30 level and expected to grow until 50 there we can expect some minor rejection
In Elliot wave theory the Second wave was already completed and 3rd major wave is underway
Give your opinion in the below comment section. If you like our work follow our profile
After reaching the September High around 0.93000 which is a key psychological level and got some rejection due to the Strong bidding of GBP as the start of the month the economic activity is slightly rebounded as expected. Though the number of coronavirus cases are raised the United kingdom has reiterate there will be no general lockdown and in turn localized approach will be made to curtail the virus infection
EURGBP currently trading in a downtrend channel which may turn as larger bullish flag if the upside trend line was broken. It has felled towards 0.90400 which is comes around 61.8 % Fibonacci retracement level and find some buyers and moved towards the trend line which is going through the channel. Which is acting as a barrier for the bull
The Fundamental factors will remain influence this pair rather than technical factors. As the Deadline for BREXIT is nearing the from today onwards there is series of negation's are planned. Kindly have a eye of Positive/Negative BREXIT headlines
We can expect the price will fell after touching of the upside trend line (Expected level-0.91500) and the potential target would be around 0.90000
Currently 200 Exponential moving average is holding as support and 50,100 EMA is acting as resistance for the Bull. In Bollinger bands the upside band is coordinating with Upside trend line
RSI is bounced from 30 level and expected to grow until 50 there we can expect some minor rejection
In Elliot wave theory the Second wave was already completed and 3rd major wave is underway
Give your opinion in the below comment section. If you like our work follow our profile
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