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eur gbp exchange rate

EUR/GBP exchange rate clings to 0.8500, BoE data eyed

  • EUR GBP exchange rate is recovering some lost ground around the 0.8500 level.
  • The GBP has shown strong support in the vicinity of the 0.8520 level so far.
  • All eyes are now fixed on the Brexit vote.
  • There is now a solid buying bias around the 0.8500 figure.

Are you searching for a strong currency with high potential on the trading chart? Guess what? Now you can make some great Pips on the EUR GBP exchange rate and begin your journey as a successful trader!

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According to Fxempire.com today the EUR GBP shared currency pair is once again trading in the close vicinity of the 0.8500 level and it is showing small signs of moving upwards towards the 0.8520 where it will struggle to fine some trading support.

EUR/GBP exchange rate is waiting for the Brexit news

I believe that in the European Union the trading cross is going towards the lower side of the trading chart and the most common figure for this week will continue to be the 0.8500 level.

In the United Kingdom the representative of the House of Commons will hold a vote on other possible scenarios for Brexit and in the meantime the Prime Minister Theresa May will have to have some building pressures to leave the office, more important there is also another significant vote regarding the Brexit extentsion.

As for data releases the EUR GBP currency pair is reacting positively at the release of the house prices and everyone is waiting for the Q4 GDP data release and the Bank of England financial gauge is also going to be an influential data release.

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

I have noticed that UK officials are already discussing several EU divorce alternatives unfortunately the EU is not interested in alternative paths and rumors already scream that Theresa May is close to stepping down from office.

At the same time the Bank of England is going to house a financial meeting in which the cautiousness will be advised during the ongoing and never ending Brexit negotiations.

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 = 0.8540

Lowest level = 0.8475

Volatility level = High

Today’s Forex predictions

Here is my EUR GBP forecast for tomorrow

Follow this trader now

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 +0.11% and it is currently trading in the close vicinity of the 0.8540 level and it is relying heavily on the 0.8570 point followed close up by 0.8689 and lastly ending with 0.8722.

On the other side of the coin I believe that by jumping over the 0.8518 level this will definitely clear the trading path towards the 0.8471 level followed close up by 0.8402.

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