EUR/GBP Analysis

This analysis includes the price movement of the Euro against the British Pound on the weekly and four-hour frames, and expectations about the future movement and market direction

The Euro against the Pound Sterling

On the weekly time frame

The euro against the pound sterling is trading on the weekly time frame between the resistance line at 0.93118 and the support line at 0.82719
The pair is trading at the end of the week at 0.843, heading down to approach the support line at 0.82719

On the 4-hour time frame

In case this pair breached the price of 0.84481, which is at the same time the last low of its record and confirming this breach by closing a candle on the daily frame below it, it will open the way for this pair to go to the weekly support line located at the price of 0.83147

This bearish scenario will be cancelled if the price of 0.84868 is breached upwards.

Tags : EURGBP