Divergence on EUR/GBP

Divergence on EUR/GBP

The current technical pattern signals a possible correction of the EUR/GBP currency pair after a continuous fall. A classic reversal formation, the divergence of the price and MACD histogram (H4 timeframe) has been formed in the trading instrument. At the moment, the EUR/GBP quotes are stable. The round level of 0.86000 is the nearest resistance. We recommend paying attention to this situation.

If the price fixes above the level of 0.86000, EUR/GBP purchases should be considered. The immediate goal for profit taking is 0.86700. The movement is tending to 0.87200-0.88000. Confirmations and market entry points should be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.

by JustForex 2019.11.22

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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