FX.co ★ EUR/GBP

Hello traders, In my brief forecast for Monday regarding the trading instrument EURGBP, I expect further decline of the currency pair towards the next resistance level. Most indicators on the hourly timeframe suggest a decrease in the currency pair towards the next resistance level. The overall trend on the 1-hour chart remains bearish. On the 1-hour chart, we can see the currency pair near the resistance level of 0.86581. On Monday, I expect a breakout of this resistance level at 0.86581 and further decline of the currency pair towards the next resistance level at 0.86268. If the EURGBP pair manages to break this resistance level at 0.86268 and stay below it, I will expect further decline towards the next resistance level. However, if the EURGBP pair fails to break the resistance level at 0.86268 and stay below it, I will expect a pullback of the currency pair towards the support level at 0.86728.