Euro / British PoundShort
EURGBP approaching resistance, prepare for reversal!
EURGBP is approaching its resistance at 0.8792 (76.4% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap resistance) where a reversal could occur, causing price to fall to its support at 0.8725 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support). We do have to be cautious of the intermediate support at 0.8758 (50% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is making the same approach to its resistance at 98% where a reaction occur.
Stochastic (55, 5, 3) is making the same approach to its resistance at 98% where a reaction occur.
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Disclaimer
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.