EURGBP currency pair is currently approaching the powerful support area made out of the support level 0.8503, lower daily Bollinger band (0.8492) as well as the major support level 0.8472 (which stopped the downtrend in April). Selected Alpha ranks the strength of the support zone at 786.54 RealStrength points – making it the strongest nearby support area out of all of the major 28 currency pairs tracked by the ActiveFX scanner. Expect intraday upward correction from the support level 0.8503. Notice the thick, multi-year support at 0.8282 (thickness of support/resistance levels reflect their relative strength).
All analysis presented here is for educational purposes and should not be considered investment/trading advice.