EUR/GBP: Pair Could Test Support
| Mar 28, 2022 07:52AM ET
Looking at the EUR/GBP chart, we can see the retraction from the 0.841 level on Mar. 22 to the 0.836 level the same day, and being unable to consolidate it fell further below the 0.83 level where it managed to form support.
Since then, it managed to climb back up in the 0.833 range and also managed to reach as high as 0.837. It was last found trading at the 0.833 range. Today, we can expect a move towards the support level of 0.83 as there is negative short-term momentum in play.
If, however, it manages to hold to the current level, then a move towards the 0.837 resistance can be expected.
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