The Euro
has been strengthening today versus the Pound, but once it got to its 200
period exponential moving average on the 4 hour chart, it stopped there. There
are two factors that could make the price bounce to the downside from this
zone. First we have the 200 EMA and we also have the 0.7200 round number level
in the same zone. However, if there is a breakout to the upside of the area,
then the bullish momentum may increase.
Very nice tip, I'll keep an eye on EURGBP.
ReplyDeleteThank you for the analysis!
ReplyDeleteWell spotted! I'll keep it in mind.
ReplyDeleteVery good analysis!
ReplyDeleteGreat analysis.
ReplyDeleteGood point! Thanks for sharing it.
ReplyDeleteLet's see it will test 0.7200 level again.
ReplyDelete