empty
30.11.2023 05:30 PM
EUR/GBP: downtrend unharmed

This image is no longer relevant

EUR/GBP Strong Sellers!

The EUR/GBP pair is located at 0.8638 at the time of writing. As you can see on the H1 chart, the rate dropped within a down channel. As long as it stays below the downtrend line, the price could approach and reach new lows.

Technically, the price failed to reach and retest the channel's downside line signaling an oversold situation. Still, an upside reversal is far from being confirmed. The former high of 0.8645 represents an upside obstacle as well.

EUR/GBP Trading Conclusion!

Testing and retesting the downtrend line may announce a new drop. Also dropping below the former low of 0.8623 validates a further drop.

On the other hand, jumping and stabilizing above the downtrend line and 0.8645 activates an upside reversal.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Ralph Shedler
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

USD/JPY: Simple Trading Tips for Beginner Traders on July 15. Analysis of Yesterday's Forex Trades

The test of the 147.40 level occurred just as the MACD indicator began moving upward from the zero line, confirming a valid entry point for buying the dollar, which

Jakub Novak 09:02 2025-07-15 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on July 15. Analysis of Yesterday's Forex Trades

The test of the 1.3475 level occurred just as the MACD indicator began to move downward from the zero line, which confirmed the validity of the entry point for selling

Jakub Novak 09:02 2025-07-15 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on July 15. Analysis of Yesterday's Forex Trades

The test of the 1.1684 level occurred at the moment when the MACD indicator had just started to move downward from the zero line, confirming a valid entry point

Jakub Novak 09:02 2025-07-15 UTC+2

Intraday Strategies for Beginner Traders on July 15

The Euro Held Its Ground Despite Rising Demand for the Dollar and U.S. Trade Threats, While the Pound Continued to Fall The euro managed to hold its position even amid

Miroslaw Bawulski 07:27 2025-07-15 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders – July 14th (U.S. Session)

Trade Analysis and Tips for the Japanese Yen The test of the 147.20 level occurred when the MACD indicator had just started to move down from the zero mark, confirming

Jakub Novak 19:23 2025-07-14 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders – July 14th (U.S. Session)

Trade Analysis and Tips for the British Pound The test of the 1.3484 level occurred when the MACD indicator had just started to rise from the zero mark, confirming

Jakub Novak 19:20 2025-07-14 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders – July 14th (U.S. Session)

Trade Analysis and Tips for the Euro The test of the 1.1672 level occurred at the moment when the MACD indicator had just started to move up from the zero

Jakub Novak 19:11 2025-07-14 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on July 14. Analysis of Yesterday's Forex Trades

The price test at 1.1678 occurred when the MACD indicator had just begun moving downward from the zero line, confirming a valid entry point for selling the euro. However

Jakub Novak 09:15 2025-07-14 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on July 14. Analysis of Yesterday's Forex Trades

The price test at 147.14 occurred when the MACD indicator had already moved well above the zero line, which limited the pair's upward potential. Today's data showing a slower decline

Jakub Novak 09:02 2025-07-14 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on July 14. Analysis of Yesterday's Forex Trades

The price test at 1.3532 occurred when the MACD indicator had just begun moving downward from the zero line, confirming a valid entry point for selling the pound and resulting

Jakub Novak 09:02 2025-07-14 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.