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 0.8970 level and it is deploying a lot of effort in jumping over the 0.8990 point and maybe jump towards the 0.9000 point.
EUR/GBP is coming close to 0.9000
I have noticed today that the EUR GBP currency pair is losing some of last week’s gains and the rally will continue to stay in place, but from a monthly point of view this is basically the fifth consecutive month where the cross is gaining ground.
The trading market is going to react at Fed’s J.Powell statement as well as the publication of the FOMC minutes towards the middle of the trading week.
Back in the UK the former Brexit activist Philip Rycroft stated that a “no deal” is bound to take place and so fat both candidates Boris Johnson and Jeremy Hunt have the same option on their table just in case the United Kingdom and the European Union officials might not be able to find a solution until the end of October.
As for data release all eyes will be fixed on the release of the Sentix index which has been predicted to land downwards by a negative value of -5.8 for the current trading month.
In the United Kingdom the release of the Manufacturing Production will definitely have a significant influence on the overall trading process.
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!
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A summary of Highs and Lows for the EUR GBP
Highest level = 0.8980
Lowest level = 0.8910
Volatility level = High
Today’s Forex predictions
Here is my EUR GBP forecast for tomorrow
Sell 65 %
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 +0.06% and it is trading in the proximity of the 0.8961 level and I believe that by jumping over the 0.8992 level this will definitely clear the trading path towards the 0.9062 level at first followed close up by 0.9092.
On the other side of the medal I have noticed that there are several solid points beginning with 0.8932 continuing with 0.8872 and lastly ending with 0.8826.
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