EUR/GBP is preparing to bounce of the lower trend line of the multi-month wedge it has been following since March this year.
Before entering this trade, please wait till the bounce has been confirmed. Your risk-reward ratio may be lower than entering the trade straight away, but winning a small trade is better than not winning at all.
Keep an eye out of the red marked area, since it functions as a major resistance. In case of a major Brexit related news, expect the wedge to be broken. Example: a no-deal brexit would lead to a break of the wedge on the upper side. Keep macro factors in mind when trading!
Before entering this trade, please wait till the bounce has been confirmed. Your risk-reward ratio may be lower than entering the trade straight away, but winning a small trade is better than not winning at all.
Keep an eye out of the red marked area, since it functions as a major resistance. In case of a major Brexit related news, expect the wedge to be broken. Example: a no-deal brexit would lead to a break of the wedge on the upper side. Keep macro factors in mind when trading!
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