# Technical_analysis_and_comments:
Good day, dear investors and colleagues traders!
Your attention a technical analysis of the currency pair #Eurgbp:
All last week, the currency pair spent in a narrow trading range sandwiched between a downtrend and a new support level - 0.8685, thereby forming a new triangle.
The currency pair demonstrates the normal performance of standard indicators of price and volume.
As a result of this, we can safely say that if the downtrend persists, the next target for the bears will be - 0.8574, which is the Fibonacci support level of 76.4% of the past uptrend.
If the currency pair can break through the downtrend and gain a foothold above it, then the first target for long positions will be 0.8745, psychological mark 0.88 and possibly 0.8883 (50% Fibonacci support).
This week suggests a constant news flow of macroeconomic statistics for the UK, and given global trends, they will clearly be negative.
Market participants are strained by the growing third deficit in the UK under current conditions, but 2 negative factors can immediately add to this: uncertain Brexit and the weakness of the British economy.
Manager of WMCI Asset Management Indirect Management Fund Sergey Melnikov.
Regards to subscribers,
Ltd ”Wermelgion and Partners Investment”
!Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion and Partners Investment” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.
Good day, dear investors and colleagues traders!
Your attention a technical analysis of the currency pair #Eurgbp:
All last week, the currency pair spent in a narrow trading range sandwiched between a downtrend and a new support level - 0.8685, thereby forming a new triangle.
The currency pair demonstrates the normal performance of standard indicators of price and volume.
As a result of this, we can safely say that if the downtrend persists, the next target for the bears will be - 0.8574, which is the Fibonacci support level of 76.4% of the past uptrend.
If the currency pair can break through the downtrend and gain a foothold above it, then the first target for long positions will be 0.8745, psychological mark 0.88 and possibly 0.8883 (50% Fibonacci support).
This week suggests a constant news flow of macroeconomic statistics for the UK, and given global trends, they will clearly be negative.
Market participants are strained by the growing third deficit in the UK under current conditions, but 2 negative factors can immediately add to this: uncertain Brexit and the weakness of the British economy.
Manager of WMCI Asset Management Indirect Management Fund Sergey Melnikov.
Regards to subscribers,
Ltd ”Wermelgion and Partners Investment”
!Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion and Partners Investment” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.