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EURGBP is reacting nicely off major resistance,bearish potential

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Euro/Brittiska pund (FX:EURGBP)  
Tickmill Mäklare  
FX:EURGBP   Euro/Brittiska pund
Trend Analysis Harmonic Patterns Chart Patterns EURGBP EUR GBP eurgbpshort eurgbplong eurgbptrend eurgbpsell eurgbpbullish forexsignals
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trendanalysis harmonicpatterns chartpattern eurgbp eur gbp eurgbpshort eurgbplong eurgbptrend eurgbpsell eurgbpbullish forexsignals
EURGBP has reacted nicely off major resistance at 0.8911 (Fibonacci retracement, horizontal swing high resistance) and a strong reaction could continue from this level to push price down towards 0.8747 support (Fibonacci retracement, horizontal swing low support).

Stochastic (55,5,3) is seeing major resistance at 95% where it reacted nicely off. Huge downside potential for a further drop.

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Losses can exceed the initial investment so please ensure you fully understand the risks.
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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