EURGBP Time to Retest the Lows

13 thg 7, 2019

EURGBP

EURGBP will test the lows of its current channel, it is kind of obvious since the latest price action struggles to break out of its resistance zone and huge daily RSI divergence.

Once 20 EMA fails to support the price, the collapse should begin. I expect 2 scenarios, possibly we will follow the white line. If GBP suffer from some Brexit related news, we might follow the purple line instead but nonetheless I don't expect EURGBP can break its current channel upwards. At most, it will be sent down to the lows by the white line at the upper price zone.

Good luck.