The EURGBP is affected by the moving average negativity – Analysis – 16-11-2020

The EURGBP pair attempted to regain the bullish bias by forming a positive rebound lately, but the stability of the moving average 55 near 0.9000 and forming a n extra barrier might force it to return to the bearish track and begin suffering new losses by targeting 0.8915 level reaching to 0.8823 in the medium period.

Therefore, we will keep preferring the negative attempts unless breaching the moving average 55, that will allow it to settle again within the bullish channel levels, to increase the chances for recording several gains that might begin at 0.9070 reaching to 0.9185 in the upcoming period.

The expected trading range for today is between 0.9010 and 0.8915

The expected trend for today: Bearish