EURGBP has been trading in a lower top lower bottom formation since December 2020; however it did experience a sharp rise since the first week of April signifying bottom formation below current levels. The pair is trading in a doji candlestick formation suggesting that the bearish trend is easing, indicating a rebound could be witnessed in the coming week. It is likely that EURGBP could rise towards 0.8620 and 0.8645 while it sustains above 0.8550.
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.