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.View trading ideas by the Price Action method.
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.
- Leading Currencies Reached Annual Highs Against the US Dollar – 2017.07.03
- The Forecast – 2017.07.03
- Analysis of the Commitments of Traders Reports – 2017.06.27