Good day traders! Today we want to show you our daily chart analysis of the EUR/GBP pair, since it is behaving in an interesting way and we consider it important to take it into account.
🔸As we can see, for more than a year the price has been in a clear downtrend.
🔸All support zones along the way have been penetrated.
🔸About a month ago, the 0.8700 zone was broken, and then the price for almost 30 days was in a consolidation period.
🔸At this moment, it is generating a break in the bearish direction, which, if confirmed, could start the next impulse.
🔸The target of the movement is in the next support zone, at 0.83000. There is about 200 pips of travel towards that level.
🔸As we can see, for more than a year the price has been in a clear downtrend.
🔸All support zones along the way have been penetrated.
🔸About a month ago, the 0.8700 zone was broken, and then the price for almost 30 days was in a consolidation period.
🔸At this moment, it is generating a break in the bearish direction, which, if confirmed, could start the next impulse.
🔸The target of the movement is in the next support zone, at 0.83000. There is about 200 pips of travel towards that level.