On the 4 hour chart, the EUR/GBP pair is now moving in a downslope channel and bellow the Moving Average. The bearish bias is strong. The pair may test the 0.8943 level for the second time before it moves up again. It confirmed by the William %R is on Oversold level. Please pay attention to the 0.8974 level. If the pair climbes up above the mentioned level, it is likely to enter the sideways correction.
The material has been provided by InstaForex Company - www.instaforex.com
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