What to Watch: EUR/GBP
This busy trading week is off to a bit of a slow start, so I’m just looking at this simple trend play on the short-term chart of EUR/GBP.
The pair has formed higher lows and higher highs inside a rising channel that’s been holding all month, and it looks like another test of support is due.
Using the handy-dandy Fib retracement tool on the latest rally shows that the 61.8% level lines up with the channel support at .8685 while the 50% level is closer to an area of interest.
This busy trading week is off to a bit of a slow start, so I’m just looking at this simple trend play on the short-term chart of EUR/GBP.
The pair has formed higher lows and higher highs inside a rising channel that’s been holding all month, and it looks like another test of support is due.
Using the handy-dandy Fib retracement tool on the latest rally shows that the 61.8% level lines up with the channel support at .8685 while the 50% level is closer to an area of interest.