EURGBP: Bullish Setup Explained 🇪🇺🇬🇧

Largo

Euro/Libra esterlina (OANDA:EURGBP)

OANDA:EURGBP Euro/Libra esterlina

supportandresistance triangle elliottwaves eurgbp swing swingtrading swingtrade priceaction priceactionanalysis priceactiontrading priceactionstrategy

EURGBP formed a huge ascending triangle on a daily time frame.
The price was nicely respecting its horizontal neckline for some time.
It was finally broken yesterday with a strong bullish candle.

Now, the broken neckline of a triangle and its trend line compose a contacting demand area.
I suggest waiting for an occasional retest of that area, expecting a bullish continuation.

Goals: 0.9 / 0.95

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