EURGBP IDEA

19 thg 2, 2023

The currency pair EURGBP appears to be following a pattern where it retraces off a trendline to create a price reversal. The pattern has been observed in the past where the pair had one touch and then dropped, followed by another touch and another drop. Currently, the pattern seems to be repeating itself where the pair has touched the trendline and is expected to retest down to the level of 0.88638. There are two possible outcomes after this retracement, one where the pair breaks below to continue the bear trend, and another where there is a major price reversal, creating a big buying opportunity up to the level of 0.89723.