Some Technical Tips for Trading EURGBP Today

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During the previous trading weeks, we saw a gradual increase in the price from the lower bound of the green channel to its upper wall.

Now the bulls are right at the resistance level of 0.854, which forms the upper bound of the green channel. It is likely that in the near future this price level will be broken higher, in this case, the price will open the way in the direction of the upper bound of the yellow channel and the next important resistance of 0.876.

The situation may change if the bulls can not go above the level of 0.854. In this case, we will see a rebound from the specified level and a decline in the direction of the lower wall of the green channel to the area of the important support level of 0.809.

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