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.

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FXROB
a year ago
This make sense but gbp is very strong we should be carrefoul
Reply
DavidBelleFX FXROB
a year ago
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!
Reply
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