EURO - Strong Bearish
1️⃣ Pressed by the strength of the US dollar.
2️⃣ Concerns about the spread of COVID-19 variant Delta in the region.
3️⃣ Investors digest the dovish tone from the recent ECB meeting.
4️⃣ In August 2021, ZEW economic sentiment in the European Zone fell by 18.5 points to 48.7 from the previous month’s 61.20.
GBP - Weak Bullish
1️⃣ The decline...
Summary:
EURGBP has been trading in a downward channel since the end of April
The pair has had two false resistance breaks at 0.8635
Recommendation:
Trade: Short EURGBP for market
Take profit: 0,8560
Stop loss: 0.8680
Justification:
The British pound has recently started to outperform the euro. EURGBP has been trading in a steady downtrend since...
its in over bough situation and near to upper bollinger band which is shows us a bearish movement. whenever its reached 0.382 level of fibo price was retrace from that area to down wards.
Note: Trade at your own risk and fundamentals are not involved in this.
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EURGBP is approaching our first resistance where we might be seeing a drop below this level to our first resistance. Stochastic is approaching resistance as well.
Price is approaching our first resistance where we might see a drop in price to our first support level. Stochastic is also seeing a drop below this level.
