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ICmarkets
Nov 28, 2018 3:55 AM

EURGBP Approaching Support, Potential Bounce Long

Euro Fx/British PoundFXCM

Description

EURGBP is approaching its support at 0.8825 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.8876 (50% Fibonacci retracement, horizontal overlap resistance). Stochastic (89, 5, 3) is approaching its support at 2.4% where a corresponding bounce could occur.
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