EUR GBP exchange rate next to 0.8770, Brexit data eyed

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  • EUR GBP exchange rate has just reached the 0.8770 level today.
  • GBP continues to stay focused on Brexit releases.
  • Theresa May is going to hold a Brexit related conference.
  • There is negative trading sentiment surrounding the GBP single currency.

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According to Fxempire.com today the EUR GBP currency pair is trading in the close vicinity of the 0.8770 level and with new data coming in from the Bank of England it is likely to see the cross close to 0.8800.

EUR GBP exchange rate keeps a close eye on Brexit news

I believe that the EUR GBP exchange rate has finally managed to completely shake off last week’s low levels which have been settled next to 0.8725 and right now it is deploying a lot of effort in reaching 0.8800.

At the same time in the United Kingdom the GBP is facing a significant amount of pressure and on top of this to make matters even worse I have seen that there is no new data regarding the UK and EU divorce negotiations.

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

So far I have noticed that one Brexit enthusiast Mrs. Leadsom has announced that Theresa May is going to bring a fresh new deal on the table.

I have also noticed that the GBP single currency pair is continuing its descent and with this is it building a lot of trading pressure.

I also feel confident that EUR GBP exchange rate is going to react promptly to the weak data coming in from the Bank of England cuts and investors are going to be even more skeptical than before.

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

Highest level = 0.8785

Lowest level = 0.8755

Volatility level = Very High

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Today’s Forex predictions

Here is my EUR/GBP forecast for tomorrow

Sell is the main action for EUR GBP exchange rate

Sell 80 %

Buy 20 %

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 exchange rate is going upwards by a positive value of +0.6% and it is trading in the close vicinity of 0.8774 and it will be relying heavily on 0.8821 continuing with 0.8860 and lastly ending with 0.8886.

On the other side of the medal I believe that by jumping over the 0.88732 level this will definitely cleat the trading path towards the 0.8728 level followed close up by 0.8655 and lastly ending with 0.8617.

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