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 currency pair is trading in the close vicinity of the 0.8800 level and it is already showing strong signs of moving down under this trading point and at the bottom of this stands the weak data coming in the from the failing Brexit negotiations with the EU officials.
EUR/GBP keeps a close eye on risk levels and Brexit
I have noticed that at the end of the trading week the European Union trading cross is now extending towards new low levels all of which are under the 0.8850 point and it is reacting to the US China trade negotiations which for the time being will be the main price action driver on the global trading markets.
The United Kingdom money markets are under the influence of a weak downbeat sentiment because the 10-year yields did not have a significant influence on the overall trading process barely moving from the negative value of -0.89% levels.
All eyes continue to stay fixed on the United Kingdom data release especially on the capital of London where the mayor has announced that he might take into consideration the idea of succeeding the Prime Minister Theresa May. Other news shows that Boris Jonhson was summoned to appear in an official court of law after being accused of illicit misconduct in the 2016 referendum.
Why I think EUR/GBP exchange rate is one of the best currencies to trade right now
In the United Kingdom the Brexit party has clearly won the EU elections and with this victory many speculations began to arise that another referendum might just be around the corner. It is still unclear that the next PM will continue the UK-EU divorce thus plunging the currency pair into more trading anxiety.
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 = 0.8860
Lowest level = 0.8810
Volatility level = High
Today’s Forex predictions
Here is my EUR GBP forecast for tomorrow
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Sell 100 %
S3 = 0.8576 S2= 0.8616 S1 = 0.8681
R1 = 0.8781 R2 = 0.8822 R3 = 0.8883
EUR/GBP significant trading levels
The EUR GBP currency pair is now going downwards by a negative value of -0.03% and it is currently trading in the close vicinity of the 0.8815 level and I believe that by jumping over the 0.8850 level this will definitely clear the trading path towards the 0.9062 point followed close up by 0.9092.
On the other side of the coin there are several solid levels staring with 0.8785 followed close up by 0.8724 and lastly ending with 0.8643.
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