EURGBP Weekly Forex Forecast 11th November to 17th November by yshashmi37 on

Midterm forecast:

While the price is below the resistance 0.8850, resumption of downtrend is expected.
We make sure when the support at 0.8620 breaks.
If the resistance at 0.8850 is broken, the short-term forecast -resumption of downtrend- will be invalid.
We will close our open trades, if the Midterm level 0.8850 is broken.
Technical analysis:

While the RSI downtrend #1 is not broken, bearish wave in price would continue.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 40.

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