Euro / British PoundShort
Big overal rising wedge EURGBP
Updated
For days we have had a decent uptrend but there is definetly a slowdown (slower higher highs and faster higher lows) wich signals a weakness
The wedge pattern is already mature we can entry now but we are not sure if it's going to breakout to the downside BUT entering now reduces significantly our risk even if price doesn't break we don't lose a lot .
Notice overal bearisch divergence on RSI
There is also a fundamental force that could change momentum we have CPI number aswell as german unemployement rates coming ! So keep an eye on that
The wedge pattern is already mature we can entry now but we are not sure if it's going to breakout to the downside BUT entering now reduces significantly our risk even if price doesn't break we don't lose a lot .
Notice overal bearisch divergence on RSI
There is also a fundamental force that could change momentum we have CPI number aswell as german unemployement rates coming ! So keep an eye on that
Trade closed: target reached
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.