EURGBP, watch key S/R levels for positioning on a long

30 apr 2020

According to marketkolor.com, Support and Resistance levels are natural turning points used to determine corrections. EURGBP has sustained multiple closes below it’s 0.8716 Support/Resistance level. This level should now act as new resistance to the price action. Look for continuity to the downside but be careful of a subsequent break of this new resistance level to the upside. EURGBP speaks a short term significant Support/Resistence Zone between 0.8668 and 0.8713. On the immediate term, key levels indicate a significant break through between 0.8694 and 0.8733. While a key long term significant strength S/R Zone is reflected between 0.8668 and 0.8713.