Looking at the EURGBP Weekly chart, we can see it extending its upwards trend these past few days, rising from the support base level of 0.84 and also forming a higher low 0.842, consolidating temporarily at the 0.843 level and gearing up towards breaking the overhead resistance of 0.847. It is currently found trading around the 0.846 price range attempting to move past and form a consolidation base.
Image Source: Unsplash
Today, we could expect a move towards the 0.847 resistance or an attempt to consolidate around the 0.846 price range.
If however, it doesn’t manage to hold on to the current level, we could expect a drop near the 0.842 support level.
(Click on image to enlarge)
Comments
Log in or sign up to join the conversation.