EUR/GBP is
depreciating to the support trend line of the channel with height of 290 pips
within the consolidation. At the same time the pair managed to break out below
the support zone between 0.8730 and 0.8750 marked on the W1 time frame
screenshot in light purple.
We should
watch closely in which direction there will be a breakout of the trend channel.
In the
first scenario there will be a breakout below the support trend line. Should
that occur I think we can expect a depreciation to 0.8350 – 0.8300.
Should the
pair rebound from the support trend line and start rallying to the resistance
trend line of the channel we should watch for a test and a breakout above the
local high at 0.93061
from 29th August 2017.
I'll watch those levels, thank you.
ReplyDeleteThe downward movemsnt is mose likely.
ReplyDeleteInteresting to see how this develops.
ReplyDeleteGood insight.
ReplyDeleteI will keep eye on any further developments.
ReplyDeleteVery useful informations, thanks!
ReplyDeleteI'll keep an eye on it.
Good post.
ReplyDeleteGood post!
ReplyDelete