The EURGBP begins to decline – Analysis – 2-5-2019

The affection of 0.8680 resistance continued on the EURGBP pair, to notice forming negative crawling by reaching 0.8588 level, while the continuous stability below the current resistance allows us to suggest more negative attempts until reaching the main targets at 0.8515 followed by 0.8420.

Stochastic crawling towards the oversold areas increases the chances of gathering new negative momentum, also, the stability of the moving average 55 around the current resistance confirms blocking the price within the negative range until reaching towards the suggested targets.

The expected trading range for today is between 0.8620 and 0.8515

The expected trend for today: Bearish