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chiefcapitalfx

eur/gbp bullsih set up.

Long
Euro / British Pound (OANDA:EURGBP)  
chiefcapitalfx Updated   
OANDA:EURGBP   Euro / British Pound
Trend Analysis Support and Resistance Chart Patterns Moving Averages EURGBP Rising Wedge retest 4hr 1hr
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trendanalysis supportandresistance chartpattern movingaverage eurgbp risingwedge retest 4hr 1hr
on the eur/gbp there seems to be a basic support and resistance channel going on. Delving in to the 4hr timeframe, I see a rising wedge pattern WHICH could also be a double bottom as well.

Either price will break out of the rising wedge and retest support OR it could break above the rising wedge and go up. Either choice is up to preference of trading style.

1hr timeframe shows MA's about to crossover so I hope that is a good indication that price will move up as well.

snapshot
snapshot
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