JacobTrades

EURGBP daily #study

FX:EURGBP   Euro / British Pound
0
Trending sideways but there is a higher low after a higher high(so far) which gives a slight edge to the bulls. On the other hand it didn't came out bullish out of the ema34 wave(so far) after it did came out bearish before, something which gives a slight edge to the bears.

A break out of the 0.5 key level channel (orange circles) could give a clue about longer term direction.
If it breaks bullish there is a possibility of and emerging bearish bat / shark @ the 0.83000-0.84000 area (shaded red)
Or if it breaks bearish there is a possibility of making a bullish bat @ 0.78500-0.78000 area (shaded green)


For a better understanding of the levels and comments on chart also check out the weekly posted here at same time

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