Looking at EUR/GBP on the 4H timeframe, we can spot a descending formation which is considered a reversal pattern if broken to the upside. Additionally, the price is currently trading inside a falling wedge formation inside the bigger descending, thus breaking the falling wedge could be a great setup for a beautiful buy opportunity.
Our first target for this trade will be the beginning of the falling wedge at 0.8475. Breaking this level will push the price towards retesting previous highs around 0.8565 and 0.8669 in extension. Good luck!
M.Y.
Our first target for this trade will be the beginning of the falling wedge at 0.8475. Breaking this level will push the price towards retesting previous highs around 0.8565 and 0.8669 in extension. Good luck!
M.Y.