The EURGBP touches the first main target – Analysis – 18-10-2021

The EURGBP pair reacted to the frequent negative pressures to notice crawling bearishly to touch the first main target at 0.8420, to face 38.2% Fibonacci correction level, expecting to form some sideways fluctuation until breaking the current barrier and open the way to target new negative levels that might extend towards 0.8340 and 0.8265 levels.

We remind you that the main bearish track will remain valid as long as the main resistance at 0.8620 remains intact, in addition to forming additional barrier at 0.8490, allowing us to wait the required break in order to reach the mentioned additional negative stations.

The expected trading range for today is between 0.8490 and 0.8340

The expected trend for today: Bearish