EUR/GBP price has been constrained within a falling wedge pattern since testing the 0.9285 level. Yesterday price broke and closed outside of this pattern, opening up an opportunity for EUR/GBP bulls to take price higher. We have seen that price action today. From here we believe price will continue upwards once again to retest at least the 0.9285.
Weekly bullish trend + higher high/higher low formed on daily + rejection from support at 0.9000 + break from falling wedge pattern (bullish indication).
If price closes back within the falling wedge or starts to create a lower high, this analysis will be invalid.
Weekly bullish trend + higher high/higher low formed on daily + rejection from support at 0.9000 + break from falling wedge pattern (bullish indication).
If price closes back within the falling wedge or starts to create a lower high, this analysis will be invalid.