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Gelium

EURGBP: Breakdown of consolidation.

Short
Euro / British Pound (FX_IDC:EURGBP)  
Gelium Updated   
FX_IDC:EURGBP   Euro / British Pound
EURGBP eurgbpshort
7
0
eurgbp eurgbpshort
A breakdown of consolidation may lead to the formation of a downtrend with a target in the 0.7780 area.
Comment:
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Variant placement of stop orders. The risk is big, but the profit factor is big.
Comment:
The first stop order is reached, but the descending model is still relevant for me. I will look for an opportunity to reopen a short position.
Comment:
Comment:
The scenario proposed earlier is not relevant. We are waiting for the next opportunity.
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Comment:
Comment:
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Because of the sharp drop in the pound, it is not worth hurry with the opening of a short position on the cross.
Comment:
While the euro is stronger than the pound. An upward trend may continue into the area of long-term resistance.
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Comment:
The euro will soon reach the long-term target level of the uptrend:

EUR: Possible reversal of the long-term uptrend.

The movement of the cross is slowing down. I think it is possible to turn the cross down:

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