Looking at the EURGBP Weekly chart, we can see its consolidation above the 0.854 after November 4th spike up from the support level of 0.846 to 0.855 price range, reaching as high as 0.859, but being unable to hold on that price level it retracted back to 0.855 range. EURGBP is currently found trading around the 0.854 price range resting on its support level and with overhead resistance levels at 0.857 and 0.859 respectively.
Photo by Colin Watts on Unsplash
Today, we could expect a move upwards towards the 0.857 resistance somewhere in the 0.856 price range.
If however, it doesn’t manage to hold on to the current level, we could expect a drop below the 0.854 support level.
(Click on image to enlarge)
Comments
Log in or sign up to join the conversation.