FX.co ★ Forexo 007 | EUR/GBP

EURGBP Technical Analysis I'm talking about EUR/GBP. The market price is currently sitting between the solid support and resistance levels. The current market price is 0.8423. Market prices will depend on last week's range. The market is starting to regain support after hitting highs last month. If the price returns to the market outlook, the market will turn to form new support in the next few days. The current market resistance is at 0.8449. The support level of the market price is 0.8406. If the candle closes above the support level in today's h4 time frame, the market price will be able to form a new support level. If the break in support creates new support, there will be a strong enough new support that could be ready earlier this month.

Let's talk about the table prepared in the h4 time period today. Support and resistance are used in the chart above. The market price formed a trend last week, and if the same trend continues, the market price may make new lows. If the h4 candle breaks the closing resistance, the market price will be able to create more resistance; if this is not possible, then given the closing price, the candle price will go against the trend and break the h4 resistance level, so the market price can break the support level and create new support levels. If it continues like this, it could break and create more resistance in the coming days. 50-day simple moving average color Medium Slate Blue: 150-day simple moving average color Dim Gray