ForexAnalytix

EURGBP may setup for another bullish move with a bull flag.

Long
FX:EURGBP   Euro / British Pound
The EURGBP has held recent gains well coming out of a "false breakdown" a few weeks ago on the break of the .8470 support and reversal out of the descending wedge . Since then, the EURGBP rallied to test the 61.8% Fibonacci retracement of the July high to August low at .8584. From here, dips to the .8525 level could find support as a bull flag is setting up. Whenever you get a sharp reversal, then a shallow pullback, the risk builds for a continuation move.