The EURGBP trades within an ascending triangle toward the 0.8824 resistance level.
This upward move follows the rejection of the 50% Fibonacci retracement level from the longer-term upward move.
Look for a breakout to the upside with the price needing to trade beyond the 0.8830 price level which coincides with the 50% Fibonacci retracement level from the recent downward move.
A breakout to the upside could be driven by further weakness in the GBPUSD, which could see the EURGBP retest the key resistance level of 0.8860.
This upward move follows the rejection of the 50% Fibonacci retracement level from the longer-term upward move.
Look for a breakout to the upside with the price needing to trade beyond the 0.8830 price level which coincides with the 50% Fibonacci retracement level from the recent downward move.
A breakout to the upside could be driven by further weakness in the GBPUSD, which could see the EURGBP retest the key resistance level of 0.8860.
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