We have a possible breakout/breakdown of the EUR/GBP
. There has been a descending triangle
forming on the 1 hour charts. The 20 EMA
is carrying price lower, while the pair can't really create any push past the 20 EMA
. We have a fairly solid support area
around .8218. Also, lower highs. Possible break down to .8190 for 25 pips. Stop right above the 20 EMA
. Reward: Risk of 2:1.