Connect with us

Hi, what are you looking for?

Economy

EURGBP: 0.85500 Failed – How Low Can it Go From Here?

EURGBP: 0.85500 Failed – How Low Can it Go From Here?

During the Asian trading session, the EURGBP tried to reach the 0.85500 level but failed to do so.
During the Asian trading session, EURCHF began to retreat from the 0.94424 level.

EURGBP chart analysis

During the Asian trading session, the EURGBP tried to reach the 0.85500 level but failed to do so. The opposite happened, and it managed to pull back to the 0.85300 level. It is also negative that the pair has retreated below the EMA200 moving average and is now under greater pressure to continue on the bearish side. Potential lower targets are 0.85250 and 0.85200 levels. Last week’s low was at the 0.85162 level.

For a bullish option, we need a positive consolidation and a return of EURGBP to the 0.85450 level. This would move us above the EMA200, and we expect its support for continued recovery. Potential higher targets are 0.8550 and 0.85550 levels. Last week’s high for EURGBP was at the 0.85720 level.

EURCHF chart analysis

During the Asian trading session, EURCHF began to retreat from the 0.94424 level. The withdrawal continued in the EU session, and the pair made a low at the 0.94150 level. The euro has been under pressure since the beginning of the day, while the Swiss franc is stable and stronger against the euro.

It could easily happen that we see a further pullback and the formation of this week’s new low. This would confirm the bearish trend; the potential lower targets are 0.94100 and 0.94000 levels.

Additional support in the EMA200 moving average is in the zone around the 0.93900 level. We need a positive consolidation and a return above the 0.94400 level for a bullish option. With such a move, we would return to the previous bullish consolidation and could continue with growth. Potential higher targets are 0.94500 and 0.94600 levels.

 

The post EURGBP: 0.85500 Failed – How Low Can it Go From Here? appeared first on FinanceBrokerage.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Enter Your Information Below To Receive Latest News, And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Enhancing and Broadening Managed Connectivity Solutions Across the Americas. OptConnect, a longtime leader in managed wireless services, today announced it has acquired Latin America-based...

    Editor's Pick

    CSL, Critical IoT Connectivity experts, announce the launch of CSL Satellite. CSL Satellite provides Critical Connectivity to remote or challenging environments, where mobile or...

    Stock

    Honda said on Tuesday it was recalling 750,000 vehicles in the United States over a defect involving air bags which could deploy unintentionally during...

    Stock

    Cruise, the driverless car company owned by General Motors is back in the spotlight after another close call with a pedestrian. The California DMV...

    Disclaimer: Financetimereport.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 Financetimereport.com