EURGBP ended its bullish corrective rebound after facing the resistance of the descending channel at 0.8605, forming a quick bearish reversal that pushed the price to stabilize below the 55-period moving average, targeting 0.8565.

 

Currently, stochastic provides additional bearish momentum, the effectiveness of the bearish path is expected to increase, waiting for the price to target the next downside levels, which may start at 0.8535 and 0.8510.

 

The expected trading range for today is between 0.8535 and 0.8590.

 

Trend forecast: Bearish