EURGBP near resistance zone
EURGBP is currently trading near the horizontal resistance zone suggesting overhead resistance and limited upside potential, this is the third time since late February that the pair is facing resistance near these 0.8720 level. EURGBP has been trading in a lower top lower bottom formation suggesting the trend to be bearish and indicating further downside potential. It is likely that EURGBP could decline towards 0.8680 and 0.8635 while it sustains below 0.8735.
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Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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