fxpremiere

EURGBP 26 04 2021

Short
OANDA:EURGBP   Euro / British Pound
EURGBP 26 04 2021

Falling in a downtrend that formed in the fall of 2020, the price was able to break through the strong resistance level of 0.869. Then it continued to fall and dropped to the support zone of 0.848. In this zone, a strong level is crossed, as well as the support lines of August 2017 and September 2020. So this zone gave the price a strong base for growth. During the new growth, the price was able to break through the May 2020 support line - 0.861. Then it touched the resistance level 0.869 again, fell to the support and fixed on it at the point 0.859. The strength of the support was enough for the price to make a false breakout of the resistance level during a new growth from it. However, I expect that after a false breakout, the price will return to the level and continue to fall. So my final target is the 0.857 support line.

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