💱 EURGBP - The triangle hints at the continuation of the fall
EURGBP continues to decline. There are signs on the chart, which tell us that the currency pair is ready for further weakening
TA in the high timeframe:
1) A strong bearish trend
2) The price is set at the support at 0.85400. Consolidation is forming and the market is preparing to go down
3) The area of 0.85400, where the key liquidity zone is located, could become a target
TA on the low timeframe:
1) We have a descending price channel, which points to the current trend
2) A triangle is forming and after a resistance retest the price will form a consolidation near the support of the figure.
3) A pre-breakdown consolidation is likely to form, a breakout of support at 0.85450 is possible.
Key support: 0.85450.
Key resistance: 0.85670
TA in the high timeframe:
1) A strong bearish trend
2) The price is set at the support at 0.85400. Consolidation is forming and the market is preparing to go down
3) The area of 0.85400, where the key liquidity zone is located, could become a target
TA on the low timeframe:
1) We have a descending price channel, which points to the current trend
2) A triangle is forming and after a resistance retest the price will form a consolidation near the support of the figure.
3) A pre-breakdown consolidation is likely to form, a breakout of support at 0.85450 is possible.
Key support: 0.85450.
Key resistance: 0.85670
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