EURGBP approaching resistance, potential for drop!
EURGBP is approaching our first resistance at 0.8771 (horizontal overlap resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 0.8697 (horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement). A breakout below our intermediate support at 0.8723 (horizontal swing low support, 78.6% Fibonacci retracement) might provide the bearish acceleration to our major support target.
Stochastic (21,5,3) is reacting off our resistance we might see a further corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (21,5,3) is reacting off our resistance we might see a further corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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