Looking at EUR/GBP Chart, we can see the retraction from the 0.839 range on January 5th to the 0.834 range and the formation of the 0.833 support level, which held strong the following days, fending off multiple attempts for breakdown. Overhead resistance was also formed around the 0.837 price range, which also appears to be solid, as on three occasions it prevented a breakout. It is currently found trading at the 0.834 range close to the 0.833 support level.
Today we could expect a move towards and possibly below the 0.833 support level, ending the weeklong channel.
If however, it manages to hold above the 0.834 range then a move towards the resistance of 0.837 could be expected.
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