TipTVFinance

EUR/GBP – Awaits Symmetrical Triangle breakout

FX:EURGBP   Euro Fx/British Pound
Following Tuesday’s drop, the EUR/GBP             pair finds itself trapped in a symmetrical triangle formation.

A period of congestion between 0.8300-0.8430 was followed by an upside break courtesy of EUR/USD             breaking above 1.11 handle. However, Cable’s rally on Tuesday ensured the upside break from congestion failed.

The odds of a bearish break high in case BOE cuts rates or stays pat. Unless the central bank does not come up with something more than a rate cut, Pound is likely to strengthen.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out