Pennant on EUR/GBP

Pennant on EUR/GBP

Yesterday, the EUR/GBP currency pair held the resistance level at 0.88750, which triggered aggressive sales. At the moment, a classical figure of the technical analysis, Pennant, (H1 timeframe) was formed. This formation indicates a continuation of a downward trend.

If the price consolidates below the local support 0.87900, we recommend considering sales of EUR/GBP. The immediate goal for profit-taking is 0.87500. In the medium term, the currency may reach the level of 0.87200.

by JustForex, 2017.06.29

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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.