On Wednesday, the currency pair EURGBP on a 4-hour and daily chart  broke the uptrend line, led from the hole with a 10-March this year.

In addition, yesterday the price has been trying to test it as a new resistance and formed the supply candle in the form of a pin bar.

Candles after that pin bar make consolidations, if the price starts to move in the direction that designated breakout, it could mean further declines. You have to take into consideration the fact that it is close to the support (level 0.7924).

Alternatively, closing above the pin bar, and a candle forming breakout, will mean negating the pro-downward bias on this pair.

1504-EURGBP


Test account with a broker binary options uTrader! Click here to invest

Binary options broker uTrader offers a return. If you win your account will increase by a percentage of the invested amount. If you lose, regardless of the size of the defeat, you never lose more than you bet.

Leave us a comment!