EUR/GBP Price Analysis
Expected Scenario
The EUR/GBP pair remains consolidated within a minor bearish channel, currently influenced by the strong resistance at the 0.8485 level. This increases the likelihood of further negative trades, with pressure expected to mount on the 0.8400 support. A successful break below this obstacle could drive the price towards additional targets at 0.8355 and subsequently 0.8290.
The stochastic indicator’s negative momentum further supports the potential for a bearish move, aligning with the previously suggested downside targets.
Expected Trading Range
Traders can expect the EUR/GBP pair to trade within a range of 0.8475 resistance to 0.8400 support.
Trend Forecast
The trend forecast for EUR/GBP remains bearish, given the current technical indicators and price behavior.
Investors and traders should monitor these levels closely to navigate today’s forex market effectively.
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