💱EURGBP - False breakdown. Double top
EURGBP made an unsuccessful attempt to break through resistance on the background of weakening pound sterling. A false breakout in the double top format is forming.
TA on the high timeframe:
1) False breakout of range resistance may bring the price back to support
2) The liquidity target area is around 0.85600.
TA on the low timeframe:
1) A move back inside the range is forming.
2) Price may form a retest of 0.8659 resistance before further decline
3) False breakout in the double top format is quite a strong set-up. In the long term we should expect a fall to 0.86076 and then to 0.85650.
Key support📉: 0.8630
Key resistance📈: 0.8660
TA on the high timeframe:
1) False breakout of range resistance may bring the price back to support
2) The liquidity target area is around 0.85600.
TA on the low timeframe:
1) A move back inside the range is forming.
2) Price may form a retest of 0.8659 resistance before further decline
3) False breakout in the double top format is quite a strong set-up. In the long term we should expect a fall to 0.86076 and then to 0.85650.
Key support📉: 0.8630
Key resistance📈: 0.8660
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