EURGBP approaching resistance, potential for drop!

22 июн. 2018 г.

EURGBP is approaching our first resistance at 0.8771 (horizontal overlap resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 0.8697 (horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement). A breakout below our intermediate support at 0.8723 (horizontal swing low support, 78.6% Fibonacci retracement) might provide the bearish acceleration to our major support target.
Stochastic (21,5,3) is reacting off our resistance we might see a further corresponding drop in price.
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