EURGBP: Falling Wedge

EURGBP, Daily

In the Daily timeframe, the EURGBP has formed a falling wedge pattern. The price reached the upper trend line, while the MFI broke the upward trend line, which signals the beginning of growth. However, there are two options to consider.

• If the price breaks the trend line above 0.8340, the bullish scenario will start up to 0.8410;

• A rebound from the trendline will drop EURGBP to 0.8300 and further to 0.8260;