Forex Trading Forecast for EURGBP | Break Higher or Next Leg Lower?

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Is the EURGBP ready for the next leg lower? Or will the pair breakout from this descending channel? Watch this Forex trading forecast to find out!

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EURGBP Reaches Key Inflection Point at 0.8920

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EURGBP is approaching a key inflection point at 0.8920.

I mentioned the pair and pointed out this area in Saturday’s Forex Forecast video.

You can see how this area is the intersection of a horizontal level that dates back to June and descending channel resistance.

This was also our target following the EURGBP topping pattern that materialized earlier this year.

The 0.8920 region was also the focal point in my September 23 post.

I even wrote that a 0.8920 retest would be ideal when EURGBP was trading above channel support at 0.8840.

Now the question is, should we sell EURGBP or wait for a break higher?

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