eur gbp exchange rate

EUR/GBP is trading close to 0.8900, Brexit data eyed

  • EUR/GBP is now trading in the proximity of the 0.8900 zone.
  • The sterling is keeping the trading cross under a lot of pressure.
  • The political uncertainty in the UK continues to stay unchanged.
  • There is a recovery movement in the vicinity of the 0.8900 level.

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According to Fxempire.com today the EUR GBP currency pair is trading in the proximity of the 0.8900 level but it is showing signs of weakness mostly because of the uncertainty surrounding the UK departure from the EU.

EUR/GBP keeps an eye on risk levels

I have noticed that the European Union trading cross is posting once again big losses fir this trading session and improved sentiment in the risk-associated complex and persistent USD-weakness.

Some important news came from the Labour Party which declared that they will do their best in passing a motion in order to prevent the next Prime Minister to pass legislation in favor of UK to leave the EU without a deal.

Still in the UK the former mayor of London Mr. Boris Johnson continues to stay the main runner for the office of PM namely Number 10.

The Brexit negotiations are taking a walk in the mud because of the fact that Theresa May’s successor is still keeping the pressure on the Sterling.

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

In the UK economy the release of the recent results from the labor market have managed to bring a breath of fresh air for the GBP single currency and for the time being everyone is going to keep a close eye on the inflation levels as well as for several trading results from key economic fundamentals.

As for data releases the preliminary inflation figures in the European Union for the previous month of May will be released later this trading week.

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 = 0.8850

Lowest level = 0.8790

Volatility level = High

Today’s Forex predictions

Here is my EUR GBP forecast for tomorrow

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Sell 100 %

Buy 0%

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 -0.3% and it is trading in the close vicinity of the 0.8894 level and it will be relying heavily on the 0.8826 level followed close up by 0.8780 and lastly ending with 0.8724.

On the other side of the coin by jumping over the 0.8932 level this will definitely clear the trading path towards 0.9062 followed close up by 0.9092.

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