EURGBP pair on a Daily chart recently reached 0.866 - 0.8680 major resistance cluster.
Then the price dropped sharply.
Bears managed to break a support line of a bearish flag pattern on a daily.
It may lead to a further decline.
After breakout confirmation analysts looking for short opportunity, consider the retest of the broken support as the point to sell from.
Next goal and target for Bears is - 0.8460
Second target is 0.8315
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Then the price dropped sharply.
Bears managed to break a support line of a bearish flag pattern on a daily.
It may lead to a further decline.
After breakout confirmation analysts looking for short opportunity, consider the retest of the broken support as the point to sell from.
Next goal and target for Bears is - 0.8460
Second target is 0.8315
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.