Euro / Livre Sterling
Short

EUR/GBP - ASCENDING WEDGE | EXPECTED PRESSURE AT NEXT RESISTANCE

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  • Ascending wedge on EUR/GBP chart with upside movement diminishing
  • Expected sell pressure at next resistance zone with the wedge being fulfilled and price correcting before pushing further
  • No buy positions for the move up to the resistance have been executed as risk/reward is too slim. I will await further development and price with respect to the ascending wedge as price could simply chop sideways
  • Forecast to execute short position at the next resistance level when sell signals present themselves

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