EURGBP has been indecisively going down for the past 9 months or thereabouts. Price has reached a critical level of support that will either sends the pair flying high or plunging down, the latter is more probable in view of price action behavior around this level (price penetrated this level indicating a breakout desire from sellers).
Long-term sellers should continue to hold for now and probably prepare to add further positions. Those who bought at the support level should be wary and not comfortable as price appears to be still heavily bearish.
Any change in material price action will be updated accordingly.
Trade well and take care.
Long-term sellers should continue to hold for now and probably prepare to add further positions. Those who bought at the support level should be wary and not comfortable as price appears to be still heavily bearish.
Any change in material price action will be updated accordingly.
Trade well and take care.