Looking at EUR/GBP Chart, we can see that it was trading in a channel between 0.834 support and 0.836 resistance until the 14th of January where the breakout happened, reaching as high as 0.838 however no consolidation took place, leading to the retraction below its previous support of 0.834 to the temporary support now formed at 0.831. It is currently found trading at 0.833 between the resistance of 0.834 and 0.831 support levels.
Today we could expect another attempt at climbing above the 0.834 resistance and consolidating at that level.
If however, it doesn’t manage to hold above the 0.833 range then a move towards the support of 0.831 could be expected.
(Click on image to enlarge)
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