EUR/GBP is trading close to 0.8900, Brexit news still on tap

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  • EUR/GBP currency pair has managed to move higher in the proximity of the 0.8900 level.
  • There is a strong buying avalanche surrounding the EUR.
  • The release of the EMU flash inflation figures is one of the most important events of today’s trading session.
  • The buying pressure will continue to shadow the Euro until the session ends.

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According to Fxempire.com today the EUR GBP currency pair is trading higher than usual in the proximity of the 0.8900 level and it is patiently waiting for new data releases in the European Union as well as news about Brexit.

EUR/GBP keeps a close eye on Brexit

I have recently noticed that The European Union trading cross will keep the trading pace at an impressive rate and June barely began and the cross already posted fresh new high values but it has managed to gain over 5% since the lows of May’s 0.8500 low points

On top of this I have also noticed that there is an increasing uncertainty surrounding the vast amount of speculations as to who will come into office in the UK Government as the next Prime Minister after Theresa May’s departure.

Still in the European Union the US President Donald Trump who is currently visiting the UK has stated that the United States is always ready to make a brand new trade deal with the United Kingdom event after its departure from the EU.

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

At the same time the French President Emmanuel Macron has announced that there will be no supplementary delays after the 31st of October when Brexit has been scheduled to take place.

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 upwards by a positive value of +0.20% and it is trading in the close vicinity of 0.8894 therefore by breaching the 0.8902 level this will definitely clear the trading path towards the 0.9062 level followed close up by 0.9092.

On the other side of the medal there are several solid points starting with 0.8834 followed close up by 0.8783 and lastly ending with 0.8724.

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