EURGBP (Projection of possible opportunity zone)
I think the upper part of the downtrend channel I've shown on the chart is an interesting area. This area has been respected for a whole year. To further reinforce the upper part of the channel, the 20-month EMA also lies over this zone.
Another detail related to price action is that the trend has moved without pulling back until almost reaching the top of the channel, which increases the likelihood of a reversal.
There isn't yet a pattern or formation indicating a turn, but it seems like a possible reaction zone.
Channels have been used for over a century due to their ability to clarify price action and highlight probable opportunity areas.
Another detail related to price action is that the trend has moved without pulling back until almost reaching the top of the channel, which increases the likelihood of a reversal.
There isn't yet a pattern or formation indicating a turn, but it seems like a possible reaction zone.
Channels have been used for over a century due to their ability to clarify price action and highlight probable opportunity areas.
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