Looking at the EUR/GBP Weekly chart, we can see its downtrend for the past week, falling from the 0.85 price range on the 24th of December down to 0.842 where it bounced reaching 0.846 but unable to move higher it retracted back down towards the 0.842 range and below. Earlier today it had another retraction falling below 0.842 down to 0.84 acting as temporary support. It can be found trading at the 0.841 price range.
Photo by Colin Watts on Unsplash
Today, we could expect a further drop below towards the 0.84 temporary resistance, possibly at 0.838
If however, manages to hold on to the current level, we could expect a move towards the 0.844 range and possibly another attempt at the 0.846 resistance level.
(Click on image to enlarge)
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