EURGBP tests key support – Analysis – 7-11-2018
Economies.com
2018-11-07 07:30AM UTC
The EURGBP pair formed strong negative rebound recently to suffer many losses, noticing the test of historical support by reaching 0.8711, while the stability of this support will confirm the preparation to gather new positive momentum to manage to regain the bullish bias and target 0.8780, while surpassing it will open the way to record positive targets that might start at 0.8835 followed by 0.8910.
The stability of the moving average 55 below the key support increases its strength against the current negative fluctuation, to confirm providing new positive momentum to prepare to build bullish trades now.
Expected trading range for today is between 0.8711 and 0.8780
Expected trend for today: Bullish
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