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Euro / British Pound
Short

EURGBP: Contraction in Triangle. Your Plan 🇪🇺🇬🇧

By VasilyTrader
Updated
snapshot

EURGBP is consolidating from April.
The price action contracts and the price sets lower highs and equal lows.

The market is stuck within a descending triangle:
  • To catch a bullish move, wait for a bullish breakout of a falling trend line.
    It will be a strong trigger.
    Goal will be 0.87

  • To catch a bearish continuation, wait for a bearish breakout of horizontal support.
    Goal will be 0.849


Because a long-term trend is bearish, I remain bearish biased.

Note
Check my new idea on EURCHF:
EURCHF: Breakout & Bearish Bias 🇪🇺🇨🇭
EUREURGBPeuroForexGBPpoundSupport and ResistanceTrend AnalysisTriangle
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