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Euro / British Pound
Long

A Small Bullish Trend is About to Come

By MontyMacht
We are not there yet. The pitchfork analysis shows that we are still in the normal range of the main bearish trend. However, the price is now resting on strong support which is pushing it up, as indicated by the green Fib spiral. Until it reaches the point of intersection with the resistance line, there will probably be no momentum to go higher as the RSI would need to recharge by going downwards temporarily. My current forecasts are as follows:
  • Low point at 0.856 within a couple of months.
  • Then a high point at 0.895 in three months.
EURGBPeuroFibonacciforecastForexforexanalysisforexsignalsSupport and ResistancetendlineTrend Lines
MontyMacht

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