EURGBP falling wedge with confluence

25 thg 4, 2014

I'm hoping to see a drop from here to .81841, which could become strong support due to the confluence between the lower trend line and the .886 fib level from the previous up swing to .84. 81841 could also be a double bottom and early reversal in the wedge before the breakout. Then, I'm hoping for price to reach for .83600 for another potential reversal zone.

*EDIT* just noticed some BURLY bullish divergence on the MACD and RSI. Check out the lows on 3/28, 4/16, and 4/22. This thing is ready to pop!