Trade Alert
EURGBP continues to drag itself higher, but currently is meeting some resistance at the 200 EMA. If the pair makes a move higher, then it will have to overcome the next key area of resistance at 0.8840. This could be a sign that the EURGBP could continue traveling towards the upper bound of the falling channel that the pair continues to trade in, which is clearly seen on a bigger picture.
Alternatively, reversal back down to the 0.8800 level and eventually a break of that, could lead to a drop towards the short-term support line, drawn from the 30th of May.
Stay careful and don't forget your SL.
EURGBP continues to drag itself higher, but currently is meeting some resistance at the 200 EMA. If the pair makes a move higher, then it will have to overcome the next key area of resistance at 0.8840. This could be a sign that the EURGBP could continue traveling towards the upper bound of the falling channel that the pair continues to trade in, which is clearly seen on a bigger picture.
Alternatively, reversal back down to the 0.8800 level and eventually a break of that, could lead to a drop towards the short-term support line, drawn from the 30th of May.
Stay careful and don't forget your SL.