The currency pair Euro Pound EUR/GBP is trading at 0.8654. The pair is trading below the moving average with a period of 55, indicating a bearish trend for the Euro Pound. At the moment, quotes of the pair test the average border of the bars of the indicator Bollinger Bands. It is worth waiting for an attempt to grow and test the upper boundary of the bands, where again we should expect an attempt to continue the decline with the first goal near the level of 0.8585.
Bollinger Bands forecast EUR/GBP on March 27, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 0.8680. The abolition of the continuation of the fall of the Euro Pound will be a breakdown of the upper border area, as well as the moving average and the closing of the pair’s quotes above the area of 0.8700, indicating a change in the bullish trend for EUR/GBP. In the event of a breakdown of the lower boundary of the indicator bands, we expect to accelerate the fall of the pair into the area below the level of 0.8590.
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