The EURGBP formed several bullish corrective waves, taking advantage of its stability above 0.8533 level, which represents a new extra support level, to notice recording some gains by reaching 0.5858 level.

 

Note that the stability within the main bearish channel’s levels that appears in the above image besides the strong barrier at 0.8610 level make us keep the main bearish scenario, to expect gathering the negative momentum, which allows it to put pressure at 0.8533 support, where surpassing it will extend the trading towards the negative stations at 0.8500 and 0.8480. 

 

The expected trading range for today is between 0.8530 and 0.8580

 

Trend forecast: Bearish