The EURGBP tests the major support – Analysis – 21-3-2023

The EURGBP pair declined due to facing additional negative pressures to test the main bullish channel’s support line at 0.820, while the upcoming scenario depends on the strength of this support line, as its stability allows us to expect gathering the positive momentum again followed by attempting to achieve some gains by rallying towards 0.8780 and 0.8835.

On the other hand, facing continuous negative pressures and crawling below the current support confirm moving to the bearish track, to suffer many losses by crawling towards 0.8670 followed by 0.8620 levels.

The expected trading range for today is between 0.8720 and 0.8835

The expected trend for today: Bullish