Key area. I recognize this pattern,it's Bearish.
Trendline Holding 100EMA (red)
Sell to the indicated target
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1 - An upside transcend a downtrend.
2- It is at the end of the inverted head and shoulders model.
His purchasing goals are:
Note: its rise continues as long as 0.86675 is not broken
Personal opinion: Better to buy, and this is more certain when it crosses the neckline of the head and...
,The path of the Pound vs. the Euro is fairly clear from this point on. While the pandemic roll-out advantage of the GBP is currently wearing off, it's only a matter of time before a decisive-break down in this pair - advantage GBP. (the next Euro-crisis?)
EUR/GBP has made the head and shoulders pattern on the daily timeframe.
After breaking the neckline, it's moving to reach 0.8776 - 0.8700 .
But if it starts to move upside by crossing the neckline, then it's a failure of the head and shoulders pattern. And targets are as followings levels 0.8906 - 0.8946 .
Our eye has been on this pair since yesterday, as it rode on the long ascension to subwave 5 of Y, the ride to the downside has begun, as we see Euro getting weaker in the coming days, a daily confirmation is also underway (a bearish doji). TRADE WITH CAUTION
** The GBP has been strong for some days. Looking at technicals, we see that price has rejected a Daily Supply zone and starting to bounce off it.
** Remember that supply and Demand will always win so i expect price to rally down to our next Daily Demand zone withh TP around 0.87260 before deciding on what to do next.
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