EURGBP approaching channel resistance, keep an eye out on this!
EURGBP is approaching major channel resistance at 0.8972 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance, channel resistance) and a strong reaction could occur at this level to push price down to at least 0.8842 support (Fibonacci retracement, horizontal overlap support). Our next major level of resistance is at 0.9027 (major swing high resistance).
Stochastic (34,5,3) is seeing major resistance below 98% and a corresponding reaction could occur at this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34,5,3) is seeing major resistance below 98% and a corresponding reaction could occur at this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results