GBP/EUR top formation?
GBP/EUR is forming a bearish wedge on the chart. Already bearish divergence on the weekly.
Usual scenario is one more push up to create a third touch on the upper edge of the wedge, before breaking down. (See green line).
However, if the lower edge gets broken, the pattern might play out sooner.
Usual scenario is one more push up to create a third touch on the upper edge of the wedge, before breaking down. (See green line).
However, if the lower edge gets broken, the pattern might play out sooner.
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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.