Key Technical Levels
The EUR/GBP has traded in tight 60 pip range for the past week providing solid entry and exit levels for scalpers. The 20-Day SMA at 0.8794 and rising trend line support (6/22, 8/6, 1/20 lows) near 0.8670 are converging increasing the likelihood that price action will continue to concentrate.
Quantitative Metrics
EUR/GBP with an ATR of 77 pips is very attractive for scalpers as the limited daily range minimizes potential risks. The pair’s Bollinger band width of 536 pips is one of the lowest of the most traded pairs and is beginning to narrow signaling that price action may continue to condense.
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