GBPEUR price chart started a bearish trend on 14th of December 2022. The bearish wave started sharply at first but the descending slope decreased as the price line proceeded. The green curve below the price line indicates the decrease in bearish power over the time. RSI is issuing positive divergence and showing potential for an upcoming bullish wave. Ichimoku Could is located above the price line but I not flattened and therefore I not expected to show strong resistance. Buyers should keep a sharp eye on the chart to indicate any ascending trigger being pulled; then they can enter long positions heading to the resistance levels mentioned below.
• There is a resistance level at 1.1385 followed by resistance at 1.1419 and 1.1495.
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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