EURGBP is in a sideways range amid a downward global trend. The price is testing the upper boundary, which plays the role of a strong resistance, where there is a high chance for a rebound
TA on the high timeframe: 1) False breakdown of 0.8666 forms a fall to the support, thus the price confirms the presence of flat 2) Impulse is forming, most likely the area of 0.8650 - 0.8684 can be a medium-term target.
TA on the low timeframe: 1) A distributive resistance retest is being formed. Such movements are quickly stopped by strong levels 2) Since we have a global downtrend and a range formed, a fall to 0.86000 is likely from resistance
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