EURGBP Trying to improve over the high in Forex market
11/2/2017 7:33:36 AM
The EURGBP cross tried to improve overnight moderate recovery move and now trading around 0.8770-85 band.
Any recovery effort might provoke immediate persistence near the 0.8810 handle, above which a fresh bout of short-covering is probable to speed up the recovery towards 0.8848 area on the way 0.8870-83 strong horizontal hurdle.
On the other hand, decline back below 180-EMA, near the 0.8750 area, leading to a succeeding break below 0.8737 level, could expand the near-term downward trajectory towards 0.8722 level ahead of the 0.8711 handle.
FOREX market analysis by FxErvin.