The EURGBP surrenders to the resistance line stability – Forecast today – 12-4-2024
Economies.com
2024-04-12 07:29AM UTC
EURGBP Pair Analysis
Expected Scenario
- The EURGBP pair has surrendered to the stability of the bearish channel’s resistance line at 0.8573.
- Additionally, the MA55 fluctuation near the resistance line has contributed to the activation of a negative attack, with the pair crawling towards 0.8535.
- Negative momentum signals from stochastic indicators are expected to increase the efficiency of the negative track.
- Next main target for negative trades is suggested to be around 0.8490.
Expected Trading Range
Between 0.8550 resistance and 0.8460 support.
Trend Forecast: Bearish
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