22.06.202006:42 Forex Analysis & Reviews: Elliott wave analysis of EUR/GBP for June 22, 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.

EUR/GBP has rallied as ex[ected and has cleared resistance at 0.9025 indicating much more upside pressure towards 0.9499 in the weeks ahead. Nevertheless, it will not be in a straight line and therefore, we must accept short-term corrections and in the short-term we could see a dip to 0.9007 before the next advance towards 0.9184, 0.9275, and to 0.9499 and above.

R3: 0.9134

R2: 0.9090

S1: 0.9060

Pivot: 0.9038

S1: 0.9025

S2: 0.9007

S3: 0.8988

Trading recommendation:

We are long EUR from 0.8760 and we will raise our stop to 0.8910

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.