EUR/GBP Price Analysis: Bears are lurking at key resistance EURGBP Technical Analysis
The market is broadly bearish on the backside of the prior bullish trend., we have seen a pop higher in the cross and there are now prospects of a near-term correction as the following will illustrate:In the prior analysis, based o the 4-hour chart, it was explained that the price was entering what could have been a demand area considering the structure looking left as illustrated above.
It was stated that if the bears turned up again at that juncture, then there would be prospects of a deeper move toward the trendline support near 0.8600/20. This is now the daily chart´s outlook: If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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