As depicted in the chart, the EURGBP pair is within a long-term bearish channel and is nearing its upper boundary, where it may face downward pressure.
Additionally, the price is currently trading at a significant resistance level that it failed to breach in its last attempt, suggesting a potential failure to break through again this time.
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Additionally, the price is currently trading at a significant resistance level that it failed to breach in its last attempt, suggesting a potential failure to break through again this time.
If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
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Price managed to break below the short-term bullish trendline yesterday, and now this recent bullish move appears to be a pullback towards the broken trendline. In the event that the price rejects from this trendline, we could expect a swift move towards our target.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.