EURGBP – Looking to Close the Gap

by Admin

EURGBP – Bullish Bias – Looking to Buy at .8555 stop at .8530

EURGBP

EURGBP – EURGBP posted net gains yesterday but level close to the previous high (.8601) from the 20th Mar found sellers. It should also be noted that .8603 is the 50% pullback level of the last selloff (from .8793 – .8411). This correction lower has stalled overnight with little net movement in Asia. A full AB=CD formation is located at .8555 and our bespoke support is seen at .8552 so we look to this area to get long today. The call Bullish Bias – Looking to Buy at .8555 stop at .8530. The profit targets will be: .8575, .8600 and .8639

Support levels are: .8555-2, .8530 and .8500