-The EURGBP 0.20% yearly candle is green having crossed above the yearly open.
-It crossed above the 50% mark of the old range.
-It's poking above a key S/R level .
-The RSI reads bullish (>50) as it breaks above resistance while still having plenty of room to move to the upside before hitting the over bought range.
-All of this occurs as EURGBP 0.20% breaks out of a falling wedge giving us a measured move target (T2) of ~0.917 IF we make it past the first target (T1) of ~0.903 at the top of the old range.
-It crossed above the 50% mark of the old range.
-It's poking above a key S/R level .
-The RSI reads bullish (>50) as it breaks above resistance while still having plenty of room to move to the upside before hitting the over bought range.
-All of this occurs as EURGBP 0.20% breaks out of a falling wedge giving us a measured move target (T2) of ~0.917 IF we make it past the first target (T1) of ~0.903 at the top of the old range.
Comment:
Round 2