For Traders

Analytical Reviews

Technical analysis

31.03.202006:34 Forex Analysis & Reviews: EUR/GBP to reach 0.8866. Analysis for March 31, 2020

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The EUR/GBP pair is now making a Market Maker Sell Model on the 4-Hour Chart. The pair has already broken out and is moving below 0.9121. From the technical viewpoint, the CCI (30) has been already moving below this 3 important levels: 100, 0, and -100. Besides, the price has been already moving below the MA 30. All these conditions give us a sign that EUR/GBP has been already trading under downward pressure. For now, this pair is trying to reach 0.8866 (a previous day's low). As long as this pair does not retrace upward higher than 0.8987 and the CCI does not move above the zero level, 0.8866 is likely to be broken as the nearest liquidity pool.

The overall bias of EUR/GBP is bearish.

(Disclaimer)

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.