From a weekly standpoint EURGBP seems to be looking to be headed to the upside from my analysis. It has bounced of the 0.82850 price 3 times previously which acted as a strong support and in recent weeks has broken the 0.84800 price, rallied to 0.87300 and has retraced back to the 0.84800 range and is looking to ultimately head up to the 0.89000 price which has previously acted as strong resistance. I will be monitoring price to see how the current weekly candle closes, then head to the lower timeframes to look for the perfect buy entry. A weekly close above 0.84870 will act as my confirmation but all we need to do is wait and see what the market gives us. Please share your thoughts on this analysis provide your insights as well. Thanks
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.