Currency pair Euro Pound EUR/GBP continues to move as part of the growth and the formation of the “Head and Shoulders” reversal pattern. Moving averages indicate a short-term bullish trend for the pair. Prices went up from the area between the signal lines, which indicates pressure from buyers of the European currency against the British pound and a potential continuation of the rise from the current levels. At the time of the publication of the forecast, the Euro/Pound rate is 0.8605. As part of the EUR/GBP Forex forecast for September 23, 2021, we should expect an attempt to develop a downward correction and a test of the support level near the 0.8535 area. Further, an upward rebound and continued growth of the Euro Pound currency pair. The potential target of such a movement on Forex is the area above the level of 0.8715.
EUR/GBP Forecast Euro Pound September 23, 2021
An additional signal in favor of the growth of the EUR GBP quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the “Head and Shoulders” pattern. Cancellation of the growth option for the Euro Pound currency pair quotes will be a fall and a breakdown of the level of 0.8475. This will indicate a breakdown of the support area and the continuation of the fall of the instrument to the area at the level of 0.8245. It is worth waiting for confirmation of growth in the EUR/GBP currency pair with the breakdown of the resistance area and closing prices above the level of 0.8705.
EUR/GBP Forecast Euro Pound September 23, 2021 suggests the development of a correction and a test of the support area near the level of 0.8535. Where can we expect a rebound and an attempt to continue the growth of the pair to the area above the level of 0.8715. A test of the trend line on the relative strength index (RSI) will be in favor of raising the currency pair. Cancellation of the growth option for the EUR/GBP currency pair will be a fall in quotations and a breakdown of the level of 0.8475. This will indicate a breakdown of the support area and a continued decline in the Forex currency pair to an area below the level of 0.8245.
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