EUR/GBP
Time frame: D1
Technical analysis: The chart of EUR/GBP shows that the price is moving in a downward trend channel. Once it registered a bottom at level 0.8470, it headed steadily northward. For ten weeks in a row, the price broke resistance after resistance, currently around the key resistance of the downward trend channel, as well as at Fibonacci 61.8. The RSI and DeM indicators go out of their over-bought values, and the price continues to make new peaks. This signals the presence of divergence, which supports sales in reaching diagonal resistance.
Alternative scenario: If the price can break through and hold over the key resistance, then it can continue its upward trend to the previous peaks at 0.9050.
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