The EURGBP crawls below the moving average – Analysis – 2-1-2020
Economies.com
2020-01-02 07:42AM UTC
The EURGBP pair returned to form negative trades recently, surrendering to the stability within the bearish channel below 0.8590 resistance, noticing crawling below the moving average 55, confirming the preparation to form new negative trades in the near term and medium term period.
Also, stochastic decline and settling within the oversold areas will increase the chances of gathering the negative momentum, to ease the mission of reaching the negative stations at 0.8415 followed by 0.8310 levels.
The expected trading range for today is between 0.8510 and 0.8415
The expected trend for today: Bearish
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