EURGBP remains negative – Analysis – 26-11-2018

In spite of forming a strong bullish rally by the EURGBP, but forming a new bearish channel supports the attempt of regaining the bearish attempts, conditioned by the stability of the resistance at 0.8916, we notice providing negative pressure on the moving average 55, to expect recording new negative targets by surpassing this barrier, which might begin at 0.8770 reaching to 0.8690 in the upcoming period.

Stochastic sharp decline and its stability within the oversold level supports the negative suggestion by providing new negative momentum, to increase the chances to begin achieving the targets in the near and medium period.

Expected trading range for today is between 0.8900 and 0.8770.

Expected trend for today: Bearish