The EURGBP provides positive signal – Forecast today – 5-4-2024

EURGBP Pair Analysis

Expected Scenario

• The EURGBP pair surrendered to positive pressures caused by a stochastic rally towards the 80 level.
• It surpassed the negative track resistance at 0.8562 and achieved gains by reaching the MA55 at 0.8585.

Expected Outcome

Continuous positive closings above the breached resistance and gathering additional positive momentum indicate a strong bullish rally in the near and medium-term period.

The target is set at the 0.8630 level initially, with potential for further upward movement towards 0.8655 as the next main station.

Expected Trading Range

Between 0.8570 support and 0.8655 resistance.