EUR/GBP Is Capped by a Declining Trend Line — Forecast

In this video, the Trading Central looks at the currency pair EUR/GBP for the May 10th session.

EUR/GBP — Looking at the intraday 30-min chart, the pair indeed remains capped by the declining trendline, in place since last Friday. It remains also capped by the 50-period Moving Average. Further weakness is also expected below the strong horizontal resistance at 0.8425. The first target is set at the horizontal support at 0.8395 and the next target at 0.8370.

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