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 has managed to jump towards the 0.8650 level and it is showing strong signs of improvement and at the bottom of this stands the release of the EMU Industrial Production.
EUR/GBP reacts to new risk levels
I have noticed that the trading cross in the European Union trading session is favorable towards a upwards movement which will lead past the 0.8600 level and so far it has managed to touch the 0.8660 level but this position will be subjected to a wide array of risk situations.
On the other side of the medal I have noticed that the GBP single currency is surrounded by some strong doubt and the application of Article 50 for October 31.
UK PM Theresa May has once again announced that the United Kingdom will leave the EU as soon as possible.
As for data release the EMU Industrial Production in the EU has increased by a positive value of +0.2% on a monthly basis and by +0.3% on a yearly , both prints coming in above previous estimates.
Why I think EUR/GBP exchange rate is one of the best currencies to trade right now
The United Kingdom Prime Minister Theresa May will announce an extension for June 30th and in the meantime the EU official Donald Tusk might refuse this request for the UK-EU divorce.
Back on the old continue I have noticed that a lot of influence has been coming from the German data releases where the Industrial Production data increased by a positive value of+ 0.7% for the previous month.
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 = 0.8560
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 currency pair is going upwards by a positive value of +0.37% and it is trading in the close vicinity of the 0.8652 level and it is relying heavily on the 0.8722 level followed close up by 0.8766 and lastly ending with 0.8824.
On the other side of the coin I believe that by jumping over the 0.8583 level this will definitely clear the trading path towards the 0.8502 point at first followed close up by 0.8483 point.
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