The currency pair EUR/GBP reached the resistance, which in the first days of March acted as support and inhibited further declines. In addition, since the Wednesday’s low was led trend line and above set up parallel line of the channel
If the price will remain under this line and there are clear signs supply you will think that further landslides are very likely and consider the option to decline (PUT). On the other hand, closing above the line of the channel, at least two 30-minute candles, both the upper limit of the channel and horizontal resistance will be broken and will appear upside potential for this currency pair.
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