Hi Traders!
There is a rising wedge pattern on EURGBP, which signals a possible reversal of the bullish trend we have seen over the past two months.
Price Action 📊
The market failed to break the previous resistance at the 0.87014 area, which led to lower highs and lower lows market swings, followed by a momentum break below the 20 EMA. This shows that there may be new waves of bearish volume entering the market.
We are looking for a bearish break and a close below the support trendline.
Fundamental Analysis 📰
Traders seem to be uncertain about the euro after ECB president Lagarge claimed that she is confident the ECB's policy will bring inflation back down to their 2% goal.
Support 📉
0.86140: SUPPORT TRENDLINE
Resistance 📈
0.86428: PEVIOUS DAY'S HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
There is a rising wedge pattern on EURGBP, which signals a possible reversal of the bullish trend we have seen over the past two months.
Price Action 📊
The market failed to break the previous resistance at the 0.87014 area, which led to lower highs and lower lows market swings, followed by a momentum break below the 20 EMA. This shows that there may be new waves of bearish volume entering the market.
We are looking for a bearish break and a close below the support trendline.
Fundamental Analysis 📰
Traders seem to be uncertain about the euro after ECB president Lagarge claimed that she is confident the ECB's policy will bring inflation back down to their 2% goal.
Support 📉
0.86140: SUPPORT TRENDLINE
Resistance 📈
0.86428: PEVIOUS DAY'S HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX