EUR/GBP – 19.09.2016

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EUR/GBP – 19.09.2016

On the 23rd of June EURGBP was trading around 0.76; after the BREXIT results the pair went up 15% to 0.86. Undoubtedly the negative effects of BREXIT will carry on for the UK economy in the near future.

EURUSD has been trading between 0.83 – 0.86. Shall we expect further gains or is it time for a consolidation?

We believe the answer is: CONSOLIDATION!! In fact we are expecting a sharp drop in EURGBP. The pair is currently trading at 0.8560. At this level our target price is 0.82.

Once our target is met; we will update our anslysis.

This cannot be considered an investment advice!!