On EURGBP chart you will notice that price tests psychological level of resistance at 88.50. Price have been moving for a long time in an upward trend. This is evidenced by sequence of higher highs and lows and additionally by EMA (75-, 100-period) averages, which have bullish attitude. New highs will likely lead to further demand pressure. Failure to break resistance may result in consolidation. It is worth to look at chart with a lower time interval.

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On H1 chart you can see correction of recent increases. Currently downward momentum has slowed down, and volatility decreases and the increasing demand pressure. Currently price is between 0.8800 support and 0.8880 resistance. Breaking it will probably lead to continuation of the impulse. Breaking the aforementioned resistance will open the way for further growth.

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