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 in the close vicinity of the 0.8700 level and it is already showing strong signs of moving upwards towards the 0.8760 level.
EUR GBP exchange rate keeps focused on Brexit
I believe that the EUR GBP currency pair is going to withstand a whole lot of trading steam in this upcoming week and it is going to be pressed against the wall by the huge buying interest which is currently hovering over the GBP and with data coming in from the UK there is no hope for solid support in the near future.
As for data releases I have noticed that the EUR GBP currency pair has received a lot of influence from the release of the Claimant Count Change which went downwards close to 14.2K going even lower than the initial 12.3K predicted value, the release of the Average Earnings index went upwards by a positive value of +3.3% on a yearly basis.
Why I think EUR/GBP exchange rate is one of the best currencies to trade right now
Back in the European Union the release of the ZEW Survey in Germany regarding the evolution of the Economic Sentiment has shown small signs of improvement.
I feel confident that the EUR GBP exchange rate is receiving plenty of influence from the Brexit news headlines as well as from Theresa May who is going to meet with her cabinet. Another important meeting is on the weekly agenda between May and Mister J.C.Juncker in Brussels.
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!
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A summary of Highs and Lows for the EUR/GBP
Highest level = 0.8780
Lowest level = 0.8745
Volatility level = High
Today’s Forex predictions
Here is my EUR/GBP forecast for tomorrow
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 downwards by a negative value of -0.10% and it is trading in the close vicinity of the 0.8741 level and by jumping over 0.8728 this will definitely clear the trading path towards 0.8655 at first followed close up by 0.8616.
On the other side of the coin there are several solid levels beginning with 0.8766 continuing with 0.8840 and lastly ending with 0.8860.
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