Forex4you - Analytics

Forex4you

527.00 7.00/10
60% of positive reviews
Real

EUR/GBP: mini-down-trend extending

EUR/GBP is in a broad consolidation phase after a long down-trend. It is supported by a long-term lower channel-line and the 200-month MA.

Within that consolidation it has been selling off steadily over the last week extending its mini-down-trend lower.

There are no signs of a reversal yet so this mini-down-trend is expected to continue. A break below the current day lows at 0.7124 would probably signal a continuation down to the level of the May lows at 0.7054.
EURGBP19

EUR/GBP is in a broad consolidation phase after a long down-trend. It is supported by a long-term lower channel-line and the 200-month MA.

Within that consolidation it has been selling off steadily over the last week extending its mini-down-trend lower.

There are no signs of a reversal yet so this mini-down-trend is expected to continue. A break below the current day lows at 0.7124 would probably signal a continuation down to the level of the May lows at 0.7054.
EURGBP19



To leave a comment you must or Join us


By visiting our website and services, you agree to the conditions of use of cookies. Learn more I agree