EURGBP bounced nicely off support, potential to rise further!

Panjang

Euro / Paun British (FX:EURGBP)

FX:EURGBP Euro / Paun British

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EURGBP bounced nicely from its support at 0.8726 (76.4% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap support) where price could potentially rise further to its resistance at 0.8795 (61.8% Fibonacci extension, horizontal overlap resistance). We do have to be cautious of the intermediate resistance at 0.8759 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) bounced nicely off its support at 3.5% where a corresponding rise could occur.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results

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