EURGBP again falling to strong support

10 дек. 2020 г.

In February of this year, the price increased strongly and broke through the support line at 0.864.
This is how the price reacted to the beginning of the pandemic and the first wave of Covid-19.
After this jump, the price returned to the line, bounced off and began to form an upward (with a slight slope) channel.
In September 2020, the second wave of Covid began and the situation repeated itself.
First, the price rose to the resistance of 0.927, then began to fall again (and also formed a channel).
In the last week of November, the price touched the support line at 0.887.
And it began to grow again.
The situation repeats itself again, so I expect the same development of events.
In my opinion, the price will first rise to the resistance line (the highs of each rise) at the 0.912 point.
And then it will fall to support. The target is 0.889.

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