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Euro / British Pound
Short
Updated

EUR/GBP REVERSAL | ASCENDING WEDGE / RSI DIVERGENCE / 61.8% FIB

112
Technical Analysis
  • RSI Divergence
  • RSI Symmetrical Triangle
  • 61.8% Fibonacci Retracement


Fundamental Analysis
  • The correction in global equity markets is beginning to weaken, signs of a reversal are showing.
  • During the recent equity market crash, and also the 2008 Financial Crisis, EUR outperformed GBP (EUR/GBP rose)
  • During the recent equity market correction, EUR/GBP fell and corrected


VERDICT: Both fundamental & technical analysis supports the expectation for EUR/GBP to resume it's uptrend


Note
Closer look at the RSI Divergence
snapshot
Note
Closer Look At Equities Correlation
snapshot
Note
UPDATE: I Just noticed I accidentally labeled this idea as short rather than long. Apologies.
Note
Potential Double Bottom
snapshot
JayanVarsani
Also on:
Ascending TrianglebreakoutDivergenceTechnical IndicatorsretracementreversalTrend AnalysisWedge

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.
Ascending TrianglebreakoutDivergenceTechnical IndicatorsretracementreversalTrend AnalysisWedge
JayanVarsani
Also on:

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.