EURGBP - Daily - Tricky but interesting.

FX_IDC:EURGBP   Euro / British Pound
Trade Alert

EURGBP continues to drag itself higher, but currently is meeting some resistance at the 200 EMA . If the pair makes a move higher, then it will have to overcome the next key area of resistance at 0.8840. This could be a sign that the EURGBP could continue traveling towards the upper bound of the falling channel that the pair continues to trade in, which is clearly seen on a bigger picture.

Alternatively, reversal back down to the 0.8800 level and eventually a break of that, could lead to a drop towards the short-term support line, drawn from the 30th of May.

Stay careful and don't forget your SL.


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