EURGBP looking to reach new lows below support level of 0.7181
By
Felipe Erazo
PUBLISHED:
09 Mar 2015 @ 12:36
|
Comments (0)
|
More info about Felipe Erazo
We’re still watching a solid bearish trend on the EURGBP, as the pair is trying to reach new lows and the next support is located at the level of 0.7181.
If the EURGBP breaks that level to the downside, it would be expected to fall to the level of 0.7156. In the other way, the EURGBP is below the daily pivot point level of 0.7210 and as long as this pair stays below that zone, it’s recommendable to look for short trades
The RSI indicator and the MACD indicator at the H1 chart are heading into the negative territory.
CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).
This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.