Currently, EUR/GBP is trading at 0.9057. The pair is consolidating in the resistance and support wedges. Previously, the pair was trading in an up trend in resistance and support wedges. There is a great possibility that the pair will rebound back from its support level. If the price breaks the support level at 0.9045, then it may start a new down trend, its first target price will be at 0.9003 and the second target price will be at 0.8946.
Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
Do follow us for future Forex trend analysis and ideas.