Forex

EURGBP prepares for new negative attack – Analysis – 16-1-2019

2019-01-16 07:43:57 GMT (Economies.com)

The EURGBP pair confirmed its affection by the bearish bias domination by providing many negative closings below 0.8990 resistance, to push the price to settle below 50% Fibonacci correction level and form new barrier at 0.8888.

 

The stability of the mentioned additional barrier and the continuous negative momentum signals coming by the major indicators form factors that agree the continuation of the negativity that might target 0.8835 followed by reaching 0.8770 levels in the upcoming period.

 

Expected trading range for today is between 0.8890 and 0.8835

 

Expected trend for today: Bearish

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