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!
According to Fxempire.com today the EUR GBP currency pair is trading low in the proximity of the 0.8500 level and due to the release of the release YTD data the cross is expected to go as low as 0.8460.[maxbutton id=”1″ ]
EUR GBP exchange rate is now incredibly volatile because of Brexit
I have noticed that the EUR GBP currency pair is now in a long term relationship with the losing side of the chart and a strong amount of influence came in from yesterday’s vote in the House of Commons which clearly decided on a an extension for the EU’s Article 50.
It is imperative to mention that extending Article 50 requires a clear and unanimous vote from all of the European Union member states.
The GBP single currency is now facing a significant amount of pressure from virtually all angles event the UK PM Theresa May has desperately asked for another meaningful vote regarding the European Union exit.
If she is successful Theresa May could call on the European Union to postpone the exit procedure until June.
Why I think EUR/GBP exchange rate is one of the best currencies to trade right now
The EUR GBP exchange rate will continue to stay under the magnifying glass for a while longer up until the votes come in, another major event will be next week when the UK PM May is going to meet up with the European Union officials
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 = 0.8540
Lowest level = 0.8475
Volatility level = High
Today’s Forex predictions
Here is my EUR/GBP forecast for tomorrow
Sell 70 %
Buy 30 %
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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 USD exchange rate is going upwards by a positive value of +0.6% and it is trading in the close vicinity of 0.8530 therefore by jumping past the 0.8574 level this will definitely clear the trading path towards 0.8613 at first followed close up by 0.8675.
On the other side of the medal there are several solid levels starting with 0.8471 followed close up by 0.8402 and lastly ending with 0.8382.
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