EUR/GBP More Bearish Movement

2 min read
Davinwu

Davinwu

Forex broker

Dear Traders

The EURGBP has made a decisive bearish break of the lower limit of a rising wedge pattern. Further bearish movement is expected after a retracement.

Price is now at 3/8 BUY PREMIUM // D L4 resistance. Wait for price to make a slight retracement to the lower limit of wedge pattern in confluence with D L3, 5/8, 38.2 FR for further continuation.

Targets are 0.8566 [W L3 // D L5 // 0/8 // -27.2 FR], with extended targets to 0.8529 W L4.

Sentiment is bearish as long as price remains under 0.8645.

The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Davin Wu aka AmbitionFX
Elite CurrenSea

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