As depicted in the chart, the EURGBP pair is within a long-term bearish channel and is nearing its upper boundary, where it may face downward pressure.
Additionally, the price is currently trading at a significant resistance level that it failed to breach in its last attempt, suggesting a potential failure to break through again this time.
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Additionally, the price is currently trading at a significant resistance level that it failed to breach in its last attempt, suggesting a potential failure to break through again this time.
If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Trade active:
Price managed to break below the short-term bullish trendline yesterday, and now this recent bullish move appears to be a pullback towards the broken trendline. In the event that the price rejects from this trendline, we could expect a swift move towards our target.
