EURGBP is showing a trend zigzag pattern in downtrend
April 9, 2015
1 min read
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EURGBP is showing a trend zigzag pattern and we can see that currently we have a chance to retrace upwards as MACD is < 0 but in retracement mode. POC comes at 0.7270-80 zone ( H3, 61.8, trend line , previous swing ) and the price might reject from there. 0.7225 and 0.7200 are targets, due to low ATR. Official bank rate decision (BOE) for GBP will be released today so the pair might get another surge of volatility breaking it eventually to 0.7150 zone.
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