EUR/GBP has barely been moving that last 24 hours and has been trading in a very narrow trading-range between 0.8685 – 0.8749. We continue to regard this narrow trading-range as a front-runner for a final dip close to 0.8621 to complete the corrective decline from 0.9499 and once the low is in place a new impulsive rally to above 0.9499 should be expected.
Only a direct break above 0.8793 will indicate a premature low has been found and the new impulsive rally to above 0.9499 is in motion.
R3: 0.8765
R2: 0.8745
R1: 0.8739
Pivot: 0.8702
S1: 0.8685
S2: 0.8650
S3: 0.8621
Trading recommendation:
We will buy EUR at 0.8635 or upon a break above 0.8765
The material has been provided by InstaForex Company – www.instaforex.com
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