EUR/GBP stays remains unchanged in the downtrend channel after the BoE surprisingly hiked interest rates for the first time since the outbreak of the coronavirus pandemic.
Intraday bias in EUR/GBP remains neutral first and with 0.8380 minor support intact, further rally is in favor. On the upside, a firm break of 0.8600 resistance will be the first sign of a larger bullish reversal and target 0.8660 resistance next. If that level doesn’t stop the price it will activate more bulls on the market and the trades can see a price around 0.8720.
On the downside, however, a break of 0.8453 will turn bias back to the downside to retest 0.8383 low instead and it probably moves the price to test again the downside channel line around 0.8346.
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Intraday bias in EUR/GBP remains neutral first and with 0.8380 minor support intact, further rally is in favor. On the upside, a firm break of 0.8600 resistance will be the first sign of a larger bullish reversal and target 0.8660 resistance next. If that level doesn’t stop the price it will activate more bulls on the market and the trades can see a price around 0.8720.
On the downside, however, a break of 0.8453 will turn bias back to the downside to retest 0.8383 low instead and it probably moves the price to test again the downside channel line around 0.8346.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.