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EURGBP Daily Chart Analysis

Profile photo of Nuno Lampreia – Forex.Today by Nuno Lampreia – Forex.Today


The first target at the 200 ma was already hit and price respected that level.

MACD is rounding out and stochastic is at the 80 % level.

The GBP is generally gaining strength against other pairs therefore I expect euro weakness against the pound.

If the stochstik moves below the 80 % and breaches the support of the cloud I would expect a bearish target at the previous low at 0.70000.

If support holds the this trade idea looses its validity.

Best of PIPS

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