The EURGBP keeps the negative track – Analysis – 6-3-2024

The EURGBP pair kept its stability within the bearish channel recently, to notice providing many closings below 0.8600 resistance, forming some negative trades to press on 38.2% Fibonacci correction level at 0.8530.

Now, stochastic negative momentum signals allow us to expect declining below 0.8530 to manage to resume the negative attack and target many negative stations that start at 0.8480 followed by reaching the next main target at 0.8410 in the medium-term period.

The expected trading range for today is between 0.8565 and 0.8480

The expected trend for today: Bearish