EUR/GBP LONG
EUR/GBP has been respecting the descending channel drawn by the green trend lines.
The Price has recently failed to break below the key resistance level and is showing a reversal within the channel.
I expect the price to increase until it reaches the upper green trend line continuing the descending channel as drawn by the grey path.
If the price reaches the upper green trend line and breaks above it, I would wait for the retest back onto the trend line and go long until it reaches the next key resistance level
The Price has recently failed to break below the key resistance level and is showing a reversal within the channel.
I expect the price to increase until it reaches the upper green trend line continuing the descending channel as drawn by the grey path.
If the price reaches the upper green trend line and breaks above it, I would wait for the retest back onto the trend line and go long until it reaches the next key resistance level
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.