Following ECB's decision to keep rates on hold and President Draghi's comments aimed at giving confidence to the Eurozone, the common currency saw a sharp rise. However the pair price has now reached a point of saturation near 0.8955 which was previously a support level. The pound, although under Brexit-related pressures, is likely to push the price down to 0.8940. That level can be followed by 0.8920. In the case of further rise though, 0.8970 close to the lower band of the ascending channel will provide resistance.
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.
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.