EUR/GBP is trading North for a third consecutive day. The pair made a high of 0.8597 and is now trading slightly lower at 0.8590. However, a little more than a month ago EUR/GBP made a high of 0.8626 which is seen as first resistance zone. Reaching this level would create a Double top suggesting that price may turn South and start to depreciate.
If price manages to pull through the resistance zone we might see an attempt to go over 0.87 reaching multi-year high at 0.8765. On the other hand, if the Double top holds, bears will take over and drive price down to possible levels gravitating towards 0.84-0.83.
Chart: EUR/GBP D1
As always, very detailed analysis.
ReplyDeleteThank you for the analysis.
ReplyDeleteGreat post, I'll keep it in mind.
ReplyDeleteLittle pull back before bullish trend continues.
ReplyDeleteValuable information! Thanks.
ReplyDeleteExcellent analysis, thank you for sharing!
ReplyDelete