EURGBP

As we predicted, the price touched the upper band of the channel formation and it is in a decisive moment. More likely it will bounce against the band and then decline pace towards the lower band of the formation. As the price is moving at the moderate pace, we can assume that it would touch the lower band in the vicinity of 0.8580 level, testing earlier 0.8700 level. In case the price breaks the channel to the up, we should take into the consideration 0.8970 and 0.9000 levels.

Comment:

The price has broken the upper band of the formation and at this moment it is testing 0.8970. Our next target it will be 0.9000 level. But the possible bounce off the current level it’s what we should also take into consideration.