EURGBP Rising wedge formation & RSI Divergence
Monitoring the EURGBP pair we have identified an RSI divergence on the Hourly chart.
We anticipate to see a retest of the 0.84260's level after the false break out (see market conditions) followed by a break-out of the rising wedge formation with even bigger profits.
Profits and stop losses are set according to previous structure supports with the latter being fair to balance our RRR.
Since we all sometimes live in our own bubble, all feedback and comments are highly appreciated.
We anticipate to see a retest of the 0.84260's level after the false break out (see market conditions) followed by a break-out of the rising wedge formation with even bigger profits.
Profits and stop losses are set according to previous structure supports with the latter being fair to balance our RRR.
Since we all sometimes live in our own bubble, all feedback and comments are highly appreciated.
Note
Same indications on Daily chart tooTrade closed: stop reached
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Related publications
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.