EURGBP bouncing back from the Strong Support

EURGBP Technical Chart Analysis

EURGBP has recently broken the bottom zone of the Ascending channel and retested the broken level.

Last week, EURGBP went back to the strong support zone and again bounces back from that support.

Let’s wait for the market to break the strong support zone for selling.

For Buying EURGBP, please wait for the market to break the top of the minor downtrend line + Re-entry confirmation of an Ascending channel range.

Brexit EU and Britain

The Brexit talks started last week, level playing field, fisheries are main parts which are still not solved.

EURUSD and GBPUSD close to the nearest resistance level. As the talks expecting whether the outcome will be positive or negative.

If positive outcome flows EUR and GBP push higher to new levels and Negative outcome shows Reverse from the resistance level.

But, for EURGBP, the Market has more chances to fall down instead of moving up.

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