EURGBP is currently trading below a major horizontal weekly/daily level.
0.886-0.889 structure was perfectly respected multiple times since spring 2020 and strong bullish impulses legs followed from that.
Being broken to the downside recently, that structure turned into a major structure resistance.
Now we have a bearish bias on a pair, and in a long run, we expect a move to the downside.
The next major support is 0.87
Note
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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.