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Euro / British Pound
Long

Potential bounce on weakness after bullish breakout!

By ICmarkets
Broker

EURGBP broke out of its descending resistance-turned-support line where a potential bounce on weakness at 0.8696 (76.4% Fibonacci retracement, multiple swing low support) could occur. This could push prices all the way to its resistance at 0.8789 (38.2% Fibonacci retracement, horizontal swing high resistance).
RSI (89) has a corresponding breakout from its descending line which contributes to our bullish bias.
Bitcoin (Cryptocurrency)bitcoinforecastChart PatternsEUREURGBPeurgbpshortForexforexsignalsGBPHarmonic PatternsTrend Analysis
ICmarkets
Broker
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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