EURGBP keeps the positivity – Analysis – 16-8-2018

The EURGBP pair ended its negative rebound by providing new close within the bullish channel that confirms the preparation to renew the positive attempts for the near term and medium term period, noticing that 0.8900 level forms additional support to increase the chances of rallying above 50% Fibonacci correction level at 0.8962, followed by repeating the pressure on the recently recorded top at 0.9030.

Stochastic release from the oversold areas confirms getting rid of the negative pressures to start gathering the required positive momentum to confirm the continuation of the positivity followed by reaching the mentioned targets.

Expected trading range for today is between 0.8920 and 0.9030

Expected trend for today: Bullish