EUR/GBP faces bearish risks

EUR/GBP faces bearish risks

2019-11-11 • Updated

Trade idea 

SELL 0.8985; TP 0.8920; SL 0.9005

An attempt of EUR/GBP to break higher earlier this week has been rejected: the advance stopped at 0.9150. The pair has breached the previous bullish channel. It is now just above the key support of 0.9000 (38.2% Fibo of the March-August decline). The decline below this level will open the way down to 0.8920/00 (the 100-day MA and 50% Fibonacci level). If the euro attempts to recover, it will meet resistance in the 0.9065/9100 area. 

EURGBP.png 

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