EUR/GBP: Trade ideas for August 21

EUR/GBP: Trade ideas for August 21

In the H1 chart, the EURGBP has made a rebound on the 500 EMA, so now, this pair is performing a retracement to continue with the bearish trend in the medium term. The EURGBP is finding resistance at the level of 0.7991, where is located the 38.2 Fibo level.

It is likely that this pair continue to rise up to the 61.8 Fibo level, where the EURGBP could perform a pullback and fall back to the support level of 0.7969. If this pair manages to make a breakout at that level, the bearish trend could extend for several days more. The CCI indicator is showing neutrality.

Trading recommendations: Place sell orders if the EURGBP does a breakout at the support level of 0.7969, with take profit at the level of 0.7935.

Scroll to top