EURGBP is currently trading at 0.88300 ahead of the UK GDP. If we look at the daily chart we have found a strong setup for long on EURGBP. This pair was consolidating from the last few weeks and finally able to break out on the daily chart.
We can see a strong support zone was created at 0.87000 on the daily chart also it has broken the trendline. Next resistance is seen at 0.90250 and 0.93300 respectively. EURGBP is currently trading at above 200 simple moving average. If EURGBP will able to close the day’s trading above 0.88200 we might see a potential buying opportunity and can go for long on this pair. Unless this is not a false breakout we could see this pair will challenge the next resistance at 0.90300 and even could move higher for the coming days.
For free Forex education and free Forex signals, you are welcome to join our public Telegram channel.
This trading analysis is only for getting an idea about the current market situation. This is not a signal. These can be used for education purposes only.