TradingView
BlackbearTrader
Apr 19, 2017 6:43 PM

Another Flag Pattern Long

BRITISH POUND / EUROICE

Description

GBP/EUR has formed a flag pattern and to see its seems we have a false breakout, thats represented by the RSI showing overbought, so I would wait for the rebound to lower trendline for support and then the partial rise will be complete and then its a buy. Also the 50 MA is showing support and has crossed over with the 20 MA.Also, the price is in a separate area in the pitchfork
Comments
kunsan
Nice chart. In addition to the triangle, likely head and shoulders bottom reversal with the neckline around 1.20.
More