EUR/GBP - A Finished Wedge Can Strongly Help BEARS (Elliott Wave)

Gregor Horvat Wavetraders

Good day fellow traders!

EURGBP made a nice rise this week, but now reversing from 0.9050 and falling back below the upper line of an ending diagonal which can be an evidence of a "throw-over" formation. However, it's still too soon to confirm a top in place, but if price will continue to weaken today and tomorrow and maybe close somewhere below 0.8990 then this would be very interesting development for more bearishness ahead.

EURGBP, 1h

Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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