EUR/GBP Long term idea

Hope you are well.

My opinion on EUR/GBP pair.
Monthly chart.
The weekly chart in description.

Black line - main chart line.
Purple line - supporting chart line.

AC ; BD showing us uptrend channel. HH and LH.
  • HH
  • LH

AB length = CD length (CD is almost equal, around 200-300 pip different.)
  • AB length around 3000 pips and it took around 5 years.
  • CD length around 2800 pips and it took around 7 years.

BC length = DE length ?
Let's see.
BC length around 4000 pips and it took around 8 years. If we will look at the trend channel we need 3rd touch.
There is a big chance that DE length will reach the 1.10 which will be equal BC length (4000 pips and it will be after 8 years).
AC length = CE length around 12-13 years
BD length = DF length around 8 years.

So DE length is in the middle of the way, forming a bull flag, after correction could be another impulse up to 1.10 (Impulse-correction-impulse).
It's a long term analysis we will need a few more years to reach this level.
But if we know the trend, we can follow up on it and made only LONG trades.

I hope you enjoyed.
Please let me know if you have any questions.

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Chart PatternsEURGBPeurgbpbullisheurgbpbuyeurgbplongeurgbptrendWave Analysis

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