Looking at EURGBP’s Chart, we can see the climb from the 0.842 range on the 26th of April to the high of 0.8465 on the 27th of April, and the fall into the 0.84 where it formed temporary support which enabled the bounce back at the 0.846. Again, it didn’t manage to hold on, returning to the support of 0.84.
Earlier, we saw the breakdown from the 0.84 support, falling in the 0.837 range and bouncing immediately up in the 0.838 range where it was last found trading.
Today, we can expect a move towards the 0.842 range, climbing above the previous 0.84 support level.
If, however, it doesn’t manage to hold to the current level then a move below the 0.837 range can be expected.
(Click on image to enlarge)
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