EURGBP - good trading levels

Good afternoon

I would like to share with you an analysis on EURGBP.

My view is that GBP will appreciate in value and hence we should go short on EURGBP. From a technical analysis standpoint, the analysis made is quite simple:

We have a resistance in the area 0.8837/0.8854, whereas slightly above we have another resistance (dynamic resistance formed from a trend line) which has been formed by joining the closing prices of August 27th to those of September 20th.

I will place a limit order in area 0.8840 with a stop loss at 0.8880.

Initial target will be at 0.8727 and Final target at 0.8630 (these happen to be the minimums levels reached in April).

 

The article was written by Riccardo Zago


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