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EUR/GBP Approaching Support, Prepare For A Bounce!

EUR/GBP is testing its support at 0.8881 (100% Fibonacci extension, 50% & 23.6% Fibonacci retracement, horizontal overlap support) where we expect the price to rise to its resistance at 0.8955 (50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing high resistance).

Stochastic (55, 5, 3) has reversed off its support at 3.5% where a corresponding rise could occur.

EUR/GBP is approaching its support where a bounce is expected.

Buy above 0.8881. Stop loss at 0.8837. Take profit at 0.8955.

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The material has been provided by InstaForex Company - www.instaforex.com