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 proximity of the 0.8910 level with many sharp spikes and at the bottom of this stands the mixed data from the UK as well as for the failing Brexit negotiations.
EUR/GBP is keeping a close eye on the Brexit negotiations
I have noticed that at the end of the trading week the European single currency is still trading high in the vicinity of the 0.8900 level and it is already showing significant signs of moving upwards in the proximity of the 0.9810 level. It is also receiving negative influence from the sophisticated UK politics as well as from the deteriorated negotiations surrounding Brexit.
As for polical updates the UK Labour Party has lost the motion in which it planned to take control of the Parliament’s timetable in order to avoid the EU departure of the United Kingdom.
Still in the UK former mayor Boris Johnson is still leading all major polls in taking over Theresa May PM office.
Back in the European Union the release of the German inflation for the previous month of May have landed according to most expectations thus going upwards by a value of +0.2% on a monthly basis and by +1.4% on a yearly basis.
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.
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!
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A summary of Highs and Lows for the EUR GBP
Highest level = 0.8910
Lowest level = 0.8870
Volatility level = High
Today’s Forex predictions
Here is my EUR GBP forecast for tomorrow
Sell 100 %
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 +0.14% and it is trading in the proximity of the 0.8908 level and by jumping over the 0.8932 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 0.8826 followed close up by 0.8779 and lastly ending with 0.8724.
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