Conducting a multi-timeframe analysis of EUR/GBP, the following can be inferred: the price is currently rejecting a crucial area of resistance that can be identified on the Weekly timeframe. Taking into account the recent impulsive move to the upside, we can expect a deep correctional move to happen before further bullish moves kick in and continue driving the price to the upside.
Zooming into lower-timeframe graphs, we may see that even though the price has rejected the 0.882 - 0.883 key zone, it potentially needs another touch before initiating a full-scale drop to the downside.
The 0.87 area of support awaits.
Godspeed.
Zooming into lower-timeframe graphs, we may see that even though the price has rejected the 0.882 - 0.883 key zone, it potentially needs another touch before initiating a full-scale drop to the downside.
The 0.87 area of support awaits.
Godspeed.
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