The EURGBP faces the negative pressures – Analysis – 27-8-2019

The EURGBP price continued to face the negative pressures by providing repeated positive closes above the bullish channel’s support at 0.9045, and the price rally above 23.6% Fibonacci correction level supports the bullish expectation, to increase the chances of breaching the moving average 55 by its rally above 0.9135 level, to begin recording the main positive targets that are located at 0.9190 and 0.9268.

Note that the price surrender to the negative pressures and the attempt of reaching below the current support, so that will cancel the positive overview, which forces it to suffer several losses by reaching 0.9000 and 0.8925.

The expected trading range for today is between 0.9040 and 0.9135

The expected trend for today: Bullish