EUR/GBP Going into the Weekend

Hi everyone,

just before the weekend is starting I want to give you this technical analysis so you understand what the most important things are you'd want to be looking out for.

This is especially interesting for when the markets open again on Monday.

We see two very interesting areas. First of all let's zoom in on the support zone around 0.869. We haven't seen these levels in around 40 days. If the price breaks below this support zone, we can see a confirmation of the downtrend and I will expect much lower prices going forward.

The second interesting area is thigh highly traded area of around 0.877. We see that the downtrend came to a temporary halt here and that for about 4 days it didn't make any decision about the direction. When the price finally broke through it showed a very negative continuation.

We are now in the second area where the price volume is high and a decision will need to be made. If the price opens north of 0.873 I will be very bullish for the coming week on EUR/GBP

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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!