For this pair I can see two possibilities.
EURGBP has been running sideways for some time, and it's in a bearish movement on W1 and M1 charts.
Possibility 1: break the bearish trendline, targeting resistance 1 at 0.87873 before continuing the bearish movement.
Possibility 2: break the support line formed by the lower bottoms, with first target at the week's lower low at 0.86698 with possible lower lows.
EURGBP has been running sideways for some time, and it's in a bearish movement on W1 and M1 charts.
Possibility 1: break the bearish trendline, targeting resistance 1 at 0.87873 before continuing the bearish movement.
Possibility 2: break the support line formed by the lower bottoms, with first target at the week's lower low at 0.86698 with possible lower lows.
Commentaire:
Just something I forgot, for the possibility 1, I would be looking not only for the bearish trendline to be breached, but also the previous high at 0.87500
Commentaire:
Target hit at 0.86698 - 600 pips