The EURGBP fluctuates within the bearish track – Analysis – 23-2-2024

The EURGBP pair provided many mixed trades recently, attempting to get the additional negative momentum to confirm the previously suggested negative scenario, as the main stability within the bearish channel and the MA55 forming additional barrier at 0.8600 will increase the chances of gathering the negative momentum to ease the mission of crawling below 0.8530 level again, to reach the first main target at 0.8490.

We notice stochastic forming negative waves to attempt to crawl below 50 level and increase the negative pressures to ease the mission of reaching the previously suggested negative stations.

The expected trading range for today is between 0.8565 and 0.8500

The expected trend for today: Bearish