EURGBP continues fall in trend
Since December last year, the price has been moving in a small falling channel.
This channel is also part of a long-term downtrend.
This trend began with a strong resistance line.
It is formed by the highs of the price during the 1st and 2nd waves of Covid-19.
The price tried to change the trend and rise from the 0.887 support line.
But again touching the resistance, it fell.
The last touch occurred at 0.921 at the end of the year.
A sharp collapse did not follow, but the price started to fall anyway.
The price returned to the small channel, breaking through the 0.910 line.
For the last two weeks it has been moving from resistance to support within the channel.
Now it is at the resistance line 0.907.
I expect the price to fall towards the support zone.
The target is 0.891.
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Share your opinion in the comments and support the idea with likes.
Thank you for your support!
This channel is also part of a long-term downtrend.
This trend began with a strong resistance line.
It is formed by the highs of the price during the 1st and 2nd waves of Covid-19.
The price tried to change the trend and rise from the 0.887 support line.
But again touching the resistance, it fell.
The last touch occurred at 0.921 at the end of the year.
A sharp collapse did not follow, but the price started to fall anyway.
The price returned to the small channel, breaking through the 0.910 line.
For the last two weeks it has been moving from resistance to support within the channel.
Now it is at the resistance line 0.907.
I expect the price to fall towards the support zone.
The target is 0.891.
---------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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