eur gbp exchange rate

EUR/GBP continues to camp close to 0.8600, Brexit extension voted

  • EUR/GBP currency pair has managed to set up camp close to the 0.8600 zone.
  • The EU has recently agreed to delay the implementation of Article 50 for October 31st.
  • Theresa May will address the House of Commons today.
  • There is no significant data coming from the United Kingdom which will leave the door open for investors to speculate more.

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According to Fxempire.com today the EUR GBP currency pair is trading in the close vicinity of the 0.0855 level and it is highly possibly that the cross is going to go in a consolidative path towards the 0.8600 level.

EUR/GBP keeps a close eye on Brexit news

I believe that the European Union still has many figures to share and the trading cross is going to face a significant amount of pressure around the 0.8590 level.

I am confident that the pair is going to deploy a lot of effort in recovering most of the lost ground since the EUR single currency regained speed from the FOMC minutes releases.

For the time being in the UK the GBP single currency will continue to stay unmoved and it will keep a close eye on the Theresa May’s speech in the House of Commons regarding the European Union’s decision of offering an extension of Article 50 for October 31st, but Theresa May has already stated again that the UK will still want to depart from the European Union as soon as possible.

Why I think EUR/GBP exchange rate is one of the best currencies to trade right now

As for data release I have noticed that there are some strong vibes coming in from the release of the German inflation figures note for the previous month of March and it has managed to come in line with most predictions as well as preliminary readings and it indicates that the consumer prices went upwards by a value of +1.4% and by + 0.4% on a month to month basis.

Today I advise you to use the SELL action as much as possible!

Let us know how you feel about this analysis? Even if you are a novice trader we would still like to know your opinion!

Forex and Profits presents Today’s Free Forex Signal

A summary of Highs and Lows for the EUR GBP

Sell is the main action for EUR/GBP exchange rate

Highest level = 0.8610

Lowest level = 0.8445

Volatility level = High

Today’s Forex predictions

Here is my EUR GBP forecast for tomorrow

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Sell 70 %

Buy 30 %

S3 = 0.8576 S2= 0.8616 S1 = 0.8681

R1 = 0.8781 R2 = 0.8822 R3 = 0.8883

EUR/GBP significant trading levels

For the time being the EUR GBP currency pair is going upwards by a positive value of +0.3% and it is trading in the close vicinity of 0.8615 and it is relying heavily on the 0.8651 level followed close up by 0.8722 and lastly ending with 0.8825.

On the other side of the coin I believe that by jumping over the 0.8577 level this will definitely clear the trading path towards the 0.8502 level at first followed close up by 0.8483.

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