Quick update on EUR/GBP trading signal – Mario Draghi speech is out!

Posted Tuesday, September 18, 2018 by
Arslan Butt • 1 min read

Recalling FX Leaders Sep 18 – Economic Event Brief, ECB’s president Draghi was supposed to deliver a speech at French Prudential Supervision and Resolution Authority event in Paris. His speech doesn’t concern anything monetary policy related and essentially covers handling of non-performing loans, as well as the advantages of a European supervisory framework on the financial system. In case you want to read the full report, check this out on ECB’s website.

Support Resistance
0.887 0.89
0.8858 0.8917
0.8828 0.8946
Key Trading Level: 0.8887

This hasn’t impacted our EUR/GBP signal and we are still in a good position. Recently, the EUR/GBP broke out of the asymmetric triangle pattern on the lower side, which is also a good sign for bears. The forex trading signal is in profit and heading towards our target level of 0.8869. Good luck.

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About the author

Arslan Butt is our Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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