Price is moving within an ascending channel which is showing strong rejection of the support and resistance of the channel, alongside two key areas of resistance illusrated by the purple areas of the chart. After a spike in price on the 10th of September, illusrated by the 20EMA crossing the 200EMA in an upwards momentum. Since this price movement, price has been...
EURGBP has just been rejected emphatically on the 0.90324 Resistance and the 1D Channel Up (RSI = 51.984, Highs/Lows = 0.0000) has been put on hold. However it did find support and made a Higher Low near 0.8900, which keeps the Channel valid for another attempt at 0.90324. If it breaks then the 12-month long consolidation on 1W breaks and we will go long (TP =...
EURGBP has developed a bullish pennant on H1 that usually breaks on the upside but a downside breakout is an option if it breaks the big trendline and triangle.
