EURGBP price line has recently been taking a bearish step on the price chart of this pair. Approaching to a strong support zone, which is reflected as a light green area below the price line, the price line seems to be getting ready for a trend reversal. MACD histograms are turning light red and MACD line is having a cross over Signal line. RSI is approaching over selling area and the overall atmosphere of the market on this pair, is switching to bullish. Buyers could be expecting the price line to have another retest of the mentioned support zone and there they can enter long positions, the target for the long position can be expected on the resistance levels above the current position of the price line.
• There is a resistance level at 0.86500 followed by resistance at 0.87000 and 0.87285.
• There is a support level at 0.85700. Below, there is 0.85500 and 0.85215.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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