EURGBP - Uncertainty ahead. Possibilities listed with actions

2019年6月22日

We're now at the top of the descending channel again. However if we look at the last touch (touches), there was a period of consolidation before moving down. With all the Brexit uncertainty, I wouldn't straight out short this pair. On the safe side I would only long for a confirmed breakout and retest of the upper channel. Likewise to ensure that we have a good shorting option, wait for a break below the 200 EMA with some good downward momentum (take the start of 2019 as an example).

I've copied the previous pattern when it touched the upper channel at the start of the year. Patience is key here.