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HomeLatestEUR/GBP Repeats Negative Closings - Forecast for June 25, 2024
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EUR/GBP Repeats Negative Closings – Forecast for June 25, 2024

EUR/GBP Price Analysis

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Expected Scenario

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The EUR/GBP pair remains consolidated within a minor bearish channel, currently influenced by the strong resistance at the 0.8485 level. This increases the likelihood of further negative trades, with pressure expected to mount on the 0.8400 support. A successful break below this obstacle could drive the price towards additional targets at 0.8355 and subsequently 0.8290.

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The stochastic indicator’s negative momentum further supports the potential for a bearish move, aligning with the previously suggested downside targets.

Expected Trading Range

Traders can expect the EUR/GBP pair to trade within a range of 0.8475 resistance to 0.8400 support.

Trend Forecast

The trend forecast for EUR/GBP remains bearish, given the current technical indicators and price behavior.

Investors and traders should monitor these levels closely to navigate today’s forex market effectively.

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