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!
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According to Fxempire.com today the EUR/GBP currency pair is trading above the critical level of 0.8500 in the close vicinity of the 0.8550 and it is showing solid signs that it is going to jump close to the 0.0870 level until the end of the trading week.
EUR/GBP reacts promptly to Brexit news
Today I have noticed that the EUR/GBP currency pair is gaining speed in a row and it is having a strong grip on the 0.8500 level.
The trading cross has managed to lose most of its initial gains right after in the European Union the German Factory Orders was released and surprisingly it has managed to contract more than many predicted and with this there are several solid concerns regarding the economic progress of the Euro zone.
Investors continue to keep their interest fixed on the Brexit negotiations but the GBP single currency seems to care from little to less about any kind of small jolts on the economic stage.
Why I think EUR GBP exchange rate is one of the best currencies to trade right now
There are rumors that there are plenty of discussions between the Prime Minister Theresa May and Labor leader Jeremy Corbyn.
These negotiations are expected to hold the main focus on the customs union. I have also noticed that this week alone May’s cabinet lost Chris Heaton-Harris and Nigel Adams because they resigned.
As for data release on the old continent the European Central Bank will publish its minutes as well as the inflation figures.
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
Highest level = 0.8560
Lowest level = 0.8435
Volatility level = High
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Today’s Forex predictions
Here is my EUR GBP forecast for tomorrow
Sell 70 %
Buy 30 %
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 +0.3% and it is trading in the close vicinity of the 0.8547 and it is relying heavily on the 0.8564 level continuing with 0.8648 and lastly ending with 0.8652.
On the other side of the coin by jumping over the 0.8502 level this will definitely clear the trading path towards the 0.8483 at first followed close up by the 0.8471 level.
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