EURGBP had a roller-coaster some weeks ago and has been returning to its 'near value' of mean price, a.k.a. the 200 EMA. The missed monthly pivot posses an interesting situation as to what price may do next.
The triangle formed indicates that a break is likely to occur but to which side is hard to call for the moment. My expectation is price has aggressively moved to the upside and is in a correction and therefore I would expect price to move towards the missed monthly pivot below before resuming north.
For more information, either follow me on here, my twitter account or at www.efxtrading.com
The triangle formed indicates that a break is likely to occur but to which side is hard to call for the moment. My expectation is price has aggressively moved to the upside and is in a correction and therefore I would expect price to move towards the missed monthly pivot below before resuming north.
For more information, either follow me on here, my twitter account or at www.efxtrading.com
