EURGBP use channels support ang grow
Since March, the price has been falling from several peaks.
Each time a new peak is a wave of coronavirus outbreak.
A resistance line has formed at these highs.
And at the end of last week, the price touched it again at the 0.915 point.
This time the fall was short-lived as the price found strong support at 0.899.
This is the support line, the lower line of the ascending channel.
The pair has been moving in it since May 20 (excluding breakouts on the background of the news agenda).
The price has already bounced off the line and started to rise.
I expect her to keep moving.
But it is unlikely to reach the upper resistance line (channel line).
Since on its way is the senior line of resistance (formed at the peaks of the pandemic).
Therefore, in my opinion, the price will stop at her.
The target is 0.913.
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Share your opinion in the comments and support the idea with likes.
Thank you for your support!
Each time a new peak is a wave of coronavirus outbreak.
A resistance line has formed at these highs.
And at the end of last week, the price touched it again at the 0.915 point.
This time the fall was short-lived as the price found strong support at 0.899.
This is the support line, the lower line of the ascending channel.
The pair has been moving in it since May 20 (excluding breakouts on the background of the news agenda).
The price has already bounced off the line and started to rise.
I expect her to keep moving.
But it is unlikely to reach the upper resistance line (channel line).
Since on its way is the senior line of resistance (formed at the peaks of the pandemic).
Therefore, in my opinion, the price will stop at her.
The target is 0.913.
-----------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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