💱EURGBP - False breakdown. Double top

٢٨ سبتمبر ٢٠٢٣

EURGBP made an unsuccessful attempt to break through resistance on the background of weakening pound sterling. A false breakout in the double top format is forming.

TA on the high timeframe:
1) False breakout of range resistance may bring the price back to support
2) The liquidity target area is around 0.85600.

TA on the low timeframe:
1) A move back inside the range is forming.
2) Price may form a retest of 0.8659 resistance before further decline
3) False breakout in the double top format is quite a strong set-up. In the long term we should expect a fall to 0.86076 and then to 0.85650.

Key support📉: 0.8630
Key resistance📈: 0.8660