EURGBP suffers the resistance stability – Analysis – 3-12-2018

The EURGBP pair attempted to form some correctional bullish rebound recently, but the stability of the minor bearish channel’s resistance at 0.8920 increases the chances of resuming the negative attempts in the near term and medium term period, thus, we will keep waiting to attack 0.8845 level, and breaking this barrier will extend trades towards 0.8755 to form the first main target of the negative attempts.

On the other hand, succeeding to breach the current resistance and providing positive close will cancel the negative overview, allowing us to start suggesting the bullish attempts, waiting to record 0.9860 followed by 0.9090 levels.

Expected trading range for today is between 0.8920 and 0.8845

Expected trend for today: Bearish