EURGBP has been going through a long term correction(monthly chart). The correction seems to be bottoming out as the EURGBP has formed AB=CD pattern which has completed at around 61.8% FIb from its Top, We have bullish divergence on daily chart with RSI and MACD and there is an Ending Diagonal Pattern formed on Daily/4hr chart which has broken on upside now signaling the reversal. The candle stick patterns are showing a Doji/Hammer reversal patterns on Daily,Weekly and Monthly charts. One can go long with the defined risk reward on chart.
Happy Trading!!
Happy Trading!!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.