The EURGBP confirmed its surrender to the dominant bearish trend by providing several closes below 0.8600 level, activating with the main indicators’ negativity by forming sharp decline, to surpass the initial targets to settle near 0.8515.

 

Forming extra barrier at 0.8454 level and stochastic reach to the oversold level, we expect renewing the negative attempts, to target 0.8490 and 0.8470 level.

 

The expected trading range for today is between 0.8490 and 0.8520

 

Trend forecast: Bearish