EUR/GBP Could Move Lower
| Nov 18, 2021 07:25AM ET
Looking at the EUR/GBP weekly chart, we can see its downward trend, falling from the previous support level of 0.855 on Friday the Nov. 12.
The support level was breached with relative ease, and since then, it has been falling lower and lower, without any signs for either consolidation or reversal.
The pair is currently trading around the 0.838 price range, resting on its temporary support level and overhead resistance levels at 0.842 and 0.845, respectively.
Today, we could expect an attempt to consolidate and move below the current 0.838 level.
If, however, it manages to hold on to the current level, we could expect a move towards the 0.842 price range.
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