EUR GBP floating slightly into negative territory in Forex market
7/21/2017 1:01:56 PM
The EUR/GBP improved previous session's sturdy gains although unsuccessful to move beyond the key 0.9004 psychological mark.
The cross encompassed all of its early up-move and has now floated slightly into negative territory, currently trading at session lows around 0.8963 area.
Immediate support is fixed near 0.8937 zone, below which the cross could expand the corrective slide even below the 0.8903 handle towards its next support near 0.8860 level. On the other hand, the 0.9004 handle now appears to have arisen as an immediate strong hurdle, which if conquered should speed up the up-move towards 0.9032 intermediate persistence on the way 0.9063-69 persistence.
FOREX market analysis by FxErvin.