EURGBP close to a potential buy zone

27.02.2019 / 14:26

Rating:

EURGBP D1 | Our expectations:

Broad consolidation and short-term decline, and the price near the bottom of consolidation and remains above a diagonal support.

The DeM divergence (14) and the price / lower bottom of the price and higher bottom of the indicator / backed by DeM Sequential's 9th give good reason to look for purchases in the range between 0.85 and 0.8532 with SL 0.8450 .

At the moment, the pair's bears are in total possession, but the foundation can easily be turned against the GBP, as a possible delay or no-deal scenario can weigh above sterling.

Alternative scenario: If the price breaks below diagonal support, we may see an additional drop in the pair.

Trader Nikolay Georgiev

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EURGBP close to a potential buy zone

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