EUR/GBP Long term ideaHope you are well.
My opinion on EUR/GBP pair.
Monthly chart.
The weekly chart in description.
Black line - main chart line.
Purple line - supporting chart line.
AC ; BD showing us uptrend channel . HH and LH .
HH
LH
AB length = CD length (CD is almost equal, around 200-300 pip different.)
AB length around 3000 pips and it took around 5 years.
CD length around 2800 pips and it took around 7 years.
BC length = DE length ?
Let's see.
BC length around 4000 pips and it took around 8 years. If we will look at the trend channel we need 3rd touch.
There is a big chance that DE length will reach the 1.10 which will be equal BC length (4000 pips and it will be after 8 years).
AC length = CE length around 12-13 years
BD length = DF length around 8 years.
So DE length is in the middle of the way, forming a bull flag , after correction could be another impulse up to 1.10 ( Impulse-correction-impulse ).
It's a long term analysis we will need a few more years to reach this level.
But if we know the trend, we can follow up on it and made only LONG trades.
I hope you enjoyed.
Please let me know if you have any questions.
DISCLAIMER: Any opinions, news, research, analyses, prices, or other information contained on this post is provided as general market commentary, and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
