EUR/GBP is trading above the 0.8900, Brexit data eyed

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  • EUR/GBP currency pair continues to float around the 0.8980.
  • EMU Industrial Production surprised to the upside in May.
  • BoE stated that a ‘no deal’ Brexit might as well drag all rates down to zero.
  • There is a lot friction around the 0.9000 level.

 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 0.0900 level and it is deploying a lot of effort in avoiding to lose this point to lower levels, but there is a lot of negative influence coming in from the failing Brexit negotiations.

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EUR/GBP finds support around next to the 10-day SMA

I have noticed that the EUR GBP currency pair is going downwards at the end of the trading week for the second time in a row and tit is building a lot of steam around the 0.9000 level which is a record high point in the last half a year of trading.

I have also noticed that there is a strong selling bias surrounding the GBP and the never ending UK political problems seem to leave some holes in the overall trading process and it is also highly possible that in the near future we are going to see many levels towards the 0.8500 point.

The failing Brexit negotiations are having a significant negative impact on the shared currency pair and the BoE has stated that leaving the European Union without a deal will definitely trigger many values all of which will be very close to zero.

As for data release I have seen that the EMU Industrial Production figures brought in some positive vibes for the previous month of May increasing in value by +0.7%.

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

As for data releases the release of the Retail Sales figures in the European Union have managed to go up by a positive value of +0.4% for the previous month of May and by +1.3% on a yearly basis.

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 = 0.8980

Lowest level = 0.8910

Volatility level = High

Today’s Forex predictions

Here is my EUR GBP forecast for tomorrow

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Sell 65 %

Buy 35%

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 downwards by a negative value of -0.06% and it is trading in the close vicinity of the 0.8978 level and I believe that by jumping over the 0.8948 level this will definitely clear the trading path towards 0.8872 level followed close up by 0.8826.

On the other side of the medal there are several solid levels starting with 0.9010 continuing with 0.9062 and lastly ending with 0.9092.

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