The #EURGBP price reacted from the low of the range showing the potential for a move higher. In this video we break down a long idea…
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The EURGBP price could be about to rally higher as the price has reacted from the major range lows. Fundamentally the price could move higher as the Euro recently found fresh buyers after the ECB left rates unchanged. This combined with the weaker USD saw the EURO strengthen against all the major currencies.
The last time the price was at this level we saw a rally back to the major range highs. This could happen again as the price has been in this range since 2016. The rally saw the price break through two major highs showing the strength in the EURO against the GBP. The price is currently forming a consolidation at the previous highs which could offer long ideas on a breakout.
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