EURGBP approaching resistance, prepare for reversal!
EURGBP is approaching its resistance at 0.8792 (76.4% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap resistance) where a reversal could occur, causing price to fall to its support at 0.8725 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support). We do have to be cautious of the intermediate support at 0.8758 (50% Fibonacci retracement, horizontal overlap support). Stochastic (55, 5, 3) is making the same approach to its resistance at 98% where a reaction occur.
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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