The EURGBP pair begins the bearish correction – Analysis – 16-8-2019

The EURGBP pair touched the bullish channel’s support line at 0.9324 and moved to form frequent negative rebounds to settle below the moving average 55 that formed initial support at 0.9165, while the continuous fluctuation below the moving average 55 will activate the correctional bearish scenario to expect moving towards 0.9070 followed by attempting to press on the bullish channel’s support line at 0.9000.

Stochastic attempt to crawl towards the oversold areas reinforces our negative overview by providing new negative momentum, to ease the mission of reaching the mentioned negative stations.

The expected trading range for today is between 0.9170 and 0.9070

The expected trend for today: Bearish