CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

EURGBP approaches key resistance zone

13:33 17 May 2021

Monday's Forex session is rather calm (at least so far). Technically looking at the EURGBP currency pair on the H4 interval, the trading continues in an upward correction. It's worth noting that the currency pair has entered a key short-term resistance zone. The purple area is marked with the upper limit of the 1:1 structure and previous price reactions. If buyers fail to overcome this obstacle, it is possible that the decline will continue towards the recent lows at 0.8565. On the other hand, if buyers manage to break above the resistance level, then the main trend may change to an uptrend. In such a scenario, the zone at 0.8717 may become the next target for buyers.

EURGBP interval H4. Source: xStation5

This content has been created by X-Trade Brokers Dom Maklerski S.A. This service is provided by X-Trade Brokers Dom Maklerski S.A. (X-Trade Brokers Brokerage House joint-stock company), with its registered office in Warsaw, at Ogrodowa 58, 00-876 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. X-Trade Brokers Dom Maklerski S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

Back