EURGBP Flag
EURGBP had made a strong impulsive move from July 2015 to March 2016 (Pole)
Since then the pair have been within a consolidating wedge ( flag) .
Corrective waves A - D have played out.
Possibly wave E may be in progress with price strongly rejecting the 92 -93 level, with price now sitting near the Monthly Pivot of 90.50.
A completion of the E wave would move price back towards the 200 MAV ( reversion to longer term mean) of 86 level.
Two key drivers could be
1. A favorable solution to Brexit - for Pound
2. ECB with further unconventional measures - against Euro
Either or will do it.....
Since then the pair have been within a consolidating wedge ( flag) .
Corrective waves A - D have played out.
Possibly wave E may be in progress with price strongly rejecting the 92 -93 level, with price now sitting near the Monthly Pivot of 90.50.
A completion of the E wave would move price back towards the 200 MAV ( reversion to longer term mean) of 86 level.
Two key drivers could be
1. A favorable solution to Brexit - for Pound
2. ECB with further unconventional measures - against Euro
Either or will do it.....
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.