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
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t.me/bluetonaFX
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
JOIN OUR FREE TELEGRAM CHANNEL
t.me/bluetonaFX
t.me/bluetonaFX
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.