EURGBP start falling after small growth

16 בנוב׳ 2020

In September, the price rose strongly and was able to break through the support line.
Then a long downtrend began, with regular corrections and pullbacks.
This trend has continued in recent months.
The line, which the price managed to break through in September, remained a support all this time.
The price came close to it but has never broken or dropped yet.
However, at the end of last week, the first breakdown occurred in these months.
The price fell behind the support line, touched the next one (together they form a strong zone) and rose again.

This gave a short and strong impulse for growth, in which the price is now.
I expect that after the correction the price will rise, touch the resistance line and fall again.
The target is the support area (intersection of lines).

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