By: Investija
New support and resistance levels are created, narrow trading range is valid between 1.3495 and 1.3415 price levels. According to current negative trend, bears have an opportunity to extend their movement after a plunge below support level. However, a retracement back to resistance is possible. Look for selling options under support when a breakout is confirmed.
EURGBP dropped to the new lows at 0.8706 price level. This point is very significant for both sides, bears and bulls. Bears can overcome bulls side completely by plunging below 0.8706 price level where negative trend can be initiated. Further testing at 0.8706 is expected for this pair.
