EURGBP near resistance zone

28 April 2021

EURGBP is currently trading near the horizontal resistance zone suggesting overhead resistance and limited upside potential, this is the third time since late February that the pair is facing resistance near these 0.8720 level. EURGBP has been trading in a lower top lower bottom formation suggesting the trend to be bearish and indicating further downside potential. It is likely that EURGBP could decline towards 0.8680 and 0.8635 while it sustains below 0.8735.

Prepared by
Technical Analysis Team

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