EURGBP has recently broken out of a bearish rising wedge to the downside. This is a typical reversal pattern. Short positions are in order from the 0.87000 resistance level with targets at 0.86000. This pair may tank all the way to test the 0.85000 to 0.84500, forming a double pattern, also, presenting further targets at 0.85500 and 0.85000. Price should test the 0.87000 resistance level, creating possible entry points.
Entry 0.87000, Stops 0.87500 and Targets 0.86000.
Trading ideas are subjective. Individual analysis advised.
Entry 0.87000, Stops 0.87500 and Targets 0.86000.
Trading ideas are subjective. Individual analysis advised.