EURGBP hovers near the support – Analysis – 9-1-2019

The GBPCHF pair is forced to form a strong negative rebound in the last trading, to notice its fluctuation near the minor bullish channel’s support at 0.8950, the upcoming scenario depends on the strength of this support, and its stability makes us expect renewing the bullish attempts, which allows it to breach the moving average 55 that located at 0.8990, to begin recording several positive targets by reaching to 0.9035 and 0.9100.

Note that the price attempt to reach below the current support and providing negative close, so that will confirm its move to a new negative track, to expect suffering several losses by targeting 0.8885 and 0.8830 level.

Expected trading range for today is between 0.8950 and 0.9035

Expected trend for today: Bullish