EURGBP has risen sharply from 0.8865 since 3rd September to make a high of 0.9291 (on 11th September) in merely 7 trading sessions, albeit post this sharp upside move the currency pair has been trading with a negative bias. This correction seems to be taking place in a downward sloping triangle, further it currently is also near the support of the 61.8% retracement of the rise experienced from 3rd September to 7th September suggesting the pair could rebound in the near term. It would be safe to say that EURGBP could gain further towards 0.9070 and 0.9130 while above 0.8990.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely