Since the beginning of April EURGBP has been moving downward. This movement should be see as a correction in uptrend because current declines are very shallow. The price reached 38.2% of previous upward movement for last 1,5 month. It was very weak achievement.
However today bulls wasn’t able to break above 0.7750 and EURGBP has rebounded. Right now the price should test again 0.7650 level. If this support breaks, next strong support will be located at 0.7550. The last mentioned level coincides with 50% Fibonacci retracement.
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