EURGBP is a Great Option Amid Hard-Brexit Fears

EURGBP has been moving inside the bearish green channel for quite a long time. After the price fell sharply and touched the lower bound of this channel, we saw a bullish trend that easily broke the moving average, which may indicate a good bullish potential.

Based on the current situation, we can assume that the market growth will continue to the 0.862 area, this level is a resistance for the price and is located on the upper bound of the green channel.

The downtrend scenario will be relevant if we see a break below the moving average near 0.844. In this case, we could expect a bearish trend near 0.818. This support level is at the lower bound of the green channel.