EUR/GBP About to continue the Bearish Trend
Good morning traders, today we bring you our mid/long term analysis in EUR/GBP.
🔸To begin with, we will base this analysis on the horizontal Support and Resistance zones.
🔸During the last few months, the price broke all the support zones that were in the path of the downtrend.
🔸Recently, the support that was at 0.86800 was broken.
🔸A few days ago, the price made a pullback to that area, and the curious thing was with the strength that this movement was made, which generated some doubts about whether it was a fakeout or the break was really confirmed.
🔸Given the previous point, we consider that the optimal way to define the vision is to wait for a clear confirmation of price action in relation to the direction.
🔸Now we see that the bearish movement is continuing, so we believe that we are close to seeing a new bearish momentum.
🔸To begin with, we will base this analysis on the horizontal Support and Resistance zones.
🔸During the last few months, the price broke all the support zones that were in the path of the downtrend.
🔸Recently, the support that was at 0.86800 was broken.
🔸A few days ago, the price made a pullback to that area, and the curious thing was with the strength that this movement was made, which generated some doubts about whether it was a fakeout or the break was really confirmed.
🔸Given the previous point, we consider that the optimal way to define the vision is to wait for a clear confirmation of price action in relation to the direction.
🔸Now we see that the bearish movement is continuing, so we believe that we are close to seeing a new bearish momentum.
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