DavidBelleFX

Descending Wedge EURGBP

FX:EURGBP   Euro Fx/British Pound
A descending wedge is forming on EURGBP             . Price is coming into a previous area of strong support, indicated by the blue rectangle . Combining this with this morning's relatively poor data coming out of the UK today, it is possible that we could see an upside break. We shall see how it plays out.

Form your own opinions.

This is not to be interpreted as investment advice.

Trading leveraged products carries a potentially high level of risk. Losses may exceed deposits.
This make sense but gbp is very strong we should be carrefoul
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It is of course, but this would in our opinion be purely looking for a small breakout from structure, possibly for a small, but nice risk:reward. Thanks for commenting!
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