Forex

EURGBP prepares to decline – Analysis – 2-10-2018

2018-10-02 06:29:35 GMT (Economies.com)

The EURGBP pair kept its stability below 38.2% Fibonacci correction level recently, which forms additional resistance at 0.8930 level, to confirm the affection by the expected bearish bias domination, also, crawling below the moving average 55 prepares to form new negative trades to keep waiting to achieve the first main target at 0.8810, while breaking it will extend trades towards 0.8753.

 

Stochastic approach to the oversold areas reinforces the bearish overview by providing new negative momentum, to support the attempt to resume the negative attack and start recording the mentioned targets.

 

Expected trading range for today is between 0.8900 and 0.8810

 

Expected trend for today: Bearish

 

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