EURGBP GROW and return to resistance level

4 Şub 2021

One of the main - the most important - lines on the chart at the moment is the support line, formed in December 2020. Even though it has only been around for a few months, this line has given the price a good boost throughout that time. You can clearly see how the price bounced each time, touching this line.

Even after the price broke through the strong resistance level of 0.877 during the fall, there was no major collapse. And the last few weeks, the price has been moving between the resistance level and the support line. Additional support in this case is provided by another, older line, formed in October 2020.

The other day the price broke through this line during the growth and bounced off the 0.881 point, showing a slight increase over the last day. I expect this rise to continue and eventually the price will return to a strong resistance level. Thus, my final target is the resistance level of 0.887.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻