Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

EUR/GBP: Euro Remains Well Bid Above 0.9000 Vs. British Pound

Published 08/15/2017, 02:33 AM
Updated 07/09/2023, 06:32 AM

Key Highlights
· The Euro after breaching 0.9000 traded as high as 0.9119 against the British Pound.
· There is a key bullish trend line forming with support at 0.9060 on the 4-hours chart of EUR/GBP.

EUR/GBP Technical Analysis
The past few months were mostly bullish for the Euro as it traded above 0.9000 against the British Pound. The EUR/GBP pair recently traded as high as 0.9119 and currently correcting lower.

Looking at the 4-hours chart of EUR/GBP, there is a key bullish trend line forming with support at 0.9060. The recent failure near 0.9120 was from a connecting resistance trend line.

There is a chance that EUR/GBP might continue to correct lower towards 0.9060. The mentioned 0.9060 is also the 50% Fib retracement level of the last wave from the 0.9007 low to 0.9119 high.

EUR/GBP Chart

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.