EUR/GBP Rising wedge breakout

Scott Barkley ProAct Traders

Bearish: Currently we are @ 0.8641 just out of a Rising wedge(bearish) and in a range. We are looking for a continuation initially to the ATR Target @ 0.8614 and then to the 0.500 Fibo @ 0.8566. The average daily true range (ATR) for the pair currently is 56 pips but its 90 day ATR is 71 pips a day.

Author

Scott Barkley

ProAct Traders

Scott Barkley is the President of ProAct Traders LLC located in Round Rock, Texas. Scott graduated from the institute For Latin American Studies in Cuernavaca, Mexico.

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