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 0.8630 and due to a lack of data releases it has quickly lost the 0.8660 trading point, rumors speculate that a second referendum is bound to take place.
EUR/GBP is keeping a eye on Brexit
I have noticed that at the end of the trading week the European Union trading cross is still keeping a tight grip on the 0.8640 level and so far is has reacted promptly towards the 55-day SMA data.
The trading cross also fell under a lot of pressure at the beginning of the trading session and the projections surrounding the economic growth in the European Union are less than rewarding and much more less than everyone expected to land.
As for data release I believe that Germany will continue to play a significant role in the evolution of the trading cross on the chart. The EMU Economic Sentiment has also managed to improve a little in April and it has been measured by the respectable ZEW survey.
Why I think EUR GBP exchange rate is one of the best currencies to trade right now
In the United Kingdom the Claimant Count Change went upwards by 28.3K for the previous month and the Average Earnings increased in value by +3,5% and the unemployment rate continue to remain close to 3.9%.
As for Brexit news the next idea after the extension of Article 50 is that the UK should house a second referendum.
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
Sell 70 %
Buy 30 %
S3 = 0.8576 S2= 0.8616 S1 = 0.8681
R1 = 0.8781 R2 = 0.8822 R3 = 0.8883
EURGBP significant trading levels
For the time being the EUR GBP currency pair is going upwards by +0.14% and it is trading in the close vicinity of the 0.8637 level and it will be relying heavily on the 0.8657 point followed close up by 0.8722 and lastly ending with 0.8762.
On the other side of the coin I believe that by jumping over the 0.8592 level this will definitely clear the path towards the 0.8502 level at first followed close up by 0.8483.
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