Looking ahead, we have yet to see a retreat towards the psychological level of 1.2500. This level is likely to develop further as we consolidate within the MAs over time. Let's see what customer sentiment tells us with 56% of traders currently holding long positions.
Key levels to watch:
Support levels:
1.2680
1.2620 (100-day MA)
1.2500
Resistance levels:
1.2700
1.2850
1.3000 (psychological level)
When EURGBP pushes towards the bottom of the consolidation pattern, significant support is present, which could inspire a short-term recovery. The 50-day MA aligns perfectly with the end point of the consolidation pattern, creating another confluence point, while a break below the range would open up an opportunity to test July's lowest level around 0.8500.
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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.
Related publications
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.