eur gbp exchange rate

EUR/GBP exchange rate sticks to 0.8550, Brexit news eyed

  • EUR/GBP is trading close to the 0.8550 level.
  • Brexit is offering positive vibes which are helping the Sterling.
  • Theresa May has a new plan which will be backed up by some Labor MPs.
  • The British Pound is fairly weak at the end of the trading session.

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 today the EUR/GBP currency pair is trading in the close vicinity of the 0.8550 level and it is showing less signs of stability until the next trading session starts.

EUR/GBP reacts to Brexit headlines

The European Union trading cross picked up some extra steam today as a direct response to the overwhelming positive headlines from the Brexit negotiations table.

Some news revolved around the idea that the MPs are more than able to support Theresa May’s new Brexit plan, there are not so many details regarding this plan but at the beginning of the next trading week we will see the motion pass the House of Commons.

Many investors are keeping a close eye on the House of Commons and the MPs will be holding a vote regarding the withdrawal decision.

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

I believe that for data releases in the UK the GDP data has highlighted the fact that the trading data is going upwards by a positive value of +0.2% for the previous quarter and by +1.4% on yearly basis. I have also noticed that the Business Investment went upwards by a positive value of +0.9% on a yearly basis and so far it has managed to exceed all expectations.

Back on the old continue in the EU the release of the German Retail Sales have landed above most expectations on the positive side of the chart, however the unemployment figures went downwards by -4.7%.

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 = 0.8560

Lowest level = 0.8435

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 is going upwards by a positive value of +0.33% and it is trading in the close vicinity of the 0.8571 level therefore by breaching the 0.8483 level this will definitely clear the trading path towards the 0.8471 level at first followed close up by 0.8402.

On the other side of the medal there are several solid levels starting with 0.8629 followed close up by 0.8674 and lastly ending with 0.8722.

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