EUR/GBP Possible Scenario
It's all price action here. As you can see, EUR/GBP broke the small descending channel (in white), so we expect it to continue its way up towards the beginning of the channel which will be our first target.
If EUR/GBP managed to get to our first target, we expect a small retest to the bigger descending channel (in yellow) before continuing its way up towards the 100% Fibonacci Extension (0.86934). But since EUR/GBP is known to be a very corrective pair, this move might take time to fully develop.
Stoploss at: 0.85560
If EUR/GBP managed to get to our first target, we expect a small retest to the bigger descending channel (in yellow) before continuing its way up towards the 100% Fibonacci Extension (0.86934). But since EUR/GBP is known to be a very corrective pair, this move might take time to fully develop.
Stoploss at: 0.85560
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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.
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.