Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

EUR/GBP Testing Resistance, Prepare For Reversal!

August 7, 2018 Analytics

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EUR/GBP is testing its resistance at 0.8932 (61.8% Fibonacci extension, 61.8% & 76.4% Fibonacci retracement, horizontal swing high resistance) where a reversal to its support at 0.88911 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) is expected.

Stochastic (89, 5, 3) has reversed off its resistance at 95% where a corresponding drop is expected.

EUR/GBP is testing its resistance where we expect to see a reversal.

Sell below 0.8932. Stop loss at 0.8959. Take profit at 0.8891.

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The material has been provided by InstaForex Company – www.instaforex.com

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