InvestMate 💶💷 EUR/GBP Flies to Re-Test Resistance Zone 💶💷

10 feb 2023

💶💷 EUR/GBP Flies to Re-Test Resistance Zone

💶💷 Nearest strong support zone: around the fibo 0.5 level of the upward wave.

💶💷 Nearest strong resistance zone: around the fibo 0.236 level of the upward wave.

💶💷 Technical environment:

📊 Moving averages: 50/50

📊 MACD: Downtrend

📊 RSI: Downtrend

💶💷 Price action: EUR/GBP, after sharp long declines, found today support near the 0.88250 level after which it started making an upward correction. This looks like a retest of the area around the resistance zone which, in my opinion, will contribute to the continuation of declines. It is worth watching this pair as it may create good conditions for further declines next week.

📉 The scenario I am playing out is a continuation of declines after a test of the vicinity of the resistance zone. I do not exclude changing the scenario in case of a sudden change in the market situation. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and carefully read the description.

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13 feb 2023

Nota