News & Analysis

EURGBP – pause before further downside?

Oct 13, 2017 | Forex News

EURGBP took a beating overnight as the GBP came roaring back. This has presented a few signs that the EURGBP could be looking at further downside including:
⤍  Failed high bearish engulfing candle confirming resistance level at .8922
⤍  Fast and slow CCIs showing regular divergence
⤍  Today’s price is finding resistance at level .8921

A break of yesterday’s low could also set up for further downside. Currently, buyers seem to be holding price above that point.

Chart shapshot for EURGBP daily shown below.

Follow Us