EUR/GBP jumped to 0.8710, BoE data eyed

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  • EUR/GBP currency pair is reacting to wave of selling of the sterling.
  • Brexit negotiations ended once again without a clear deal.
  • Theresa May will be announcing for the 10th time the moment when the UK is going to depart from the EU.
  • The currency pair is going to face a strong selling pressure around the 0.8700 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 0.8700 level and it is already showing signs of jumping towards 0.8720 towards the end of the trading session thus reaching for the first time a 3 month high spot.

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EUR/GBP pulled down by failing Brexit negotiations

I have noticed that at the end of the trading session the EUR GBP currency pair has reached a 3 month high spot thus igniting the a selling tidal wave across the market and it will continue to navigate towards higher levels in the proximity of the 0.8720 level.

I have also noticed that the never ending negotiations between the United States and China are creating a lot of friction and negative aspects for the entire trading market, on top of this China has already stated that they wish to end these failing negotiations.

I also believe that the Brexit negotiations are continuously failing and the UK Prime Minister Theresa May is going to announce the 10th departure date and  J.Corbyn has announced that the government cannot make any more compromises to clinch to a longstanding agreement.

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

Back on the old continent I have noticed that a lot of influence has been coming from the German data releases where the Industrial Production data increased by a positive value of+ 0.7%  for the previous month.

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 = 0.8760

Lowest level = 0.8620

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 +0.26% and it is trading in the close vicinity of the 0.8752 level and I believe that by jumping over the 0.8792 level this will definitely clear the trading path towards the 0.8821 level at first followed close up by 0.8840.

On the other side of the medal there are several solid levels beginning with 0.8688 continuing with 0.8604 and lastly ending with 0.8488.

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