EUR/GBP: 4-hour
Looks like EUR/GBP is gearing up for another trend line test! This falling resistance level has been holding since mid-March this year and might continue to keep the pair’s rallies at bay. The trend line coincides with the 100 SMA, which has been acting as dynamic resistance for the pair as well. Stochastic is already moving down from the overbought area, indicating that sellers are in control of price action at the moment. Still, EUR/GBP might have a chance at pulling up to the trend line near the .7950 area and possibly making new lows if the selloff continues.
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