EUR/GBP ticks lower as 61.8% Fibo level gives hard time!

The EUR/GBP forex trading signal seems to do pretty well for us as it's floating in more 20 pips profits by now.  The pair completed 61.8%..


The EUR/GBP forex trading signal seems to be doing pretty well for us as it’s floating in more than 20 pips profit by now. The pair completed 61.8% retracement at 0.9015 and was struggling to break above this level. At the same time, the 50 periods EMA was also working as a solid hurdle. That’s when we decided to place a sell order.

For the moment, the EUR/GBP is expected to continue its bearish momentum until 0.8970 and 0.8960. So if you are holding that trade, just make sure to move your stop loss at breakeven points.

Stay tuned to FX Leaders as the real action is yet to begin during the New York session, especially on the release of ADP non-farm payroll and ISM non-manufacturing figures. Good luck!

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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