EUR/GBP's sell-off from the highs near 0.91 seen in January has taken the shape of a falling wedge - a bullish reversal pattern on the daily chart.
A close above the upper edge of the falling wedge, currently at 0.8645, would confirm a bearish-to-bullish trend change and open the doors to 0.8840 (Feb. 14 high). Rejection at the wedge hurdle, however, could end triggering a sell-off toward levels below 0.83.
As of writing, the pair is trading at 0.8545.
- R3 0.8644
- R2 0.8603
- R1 0.857
- PP 0.853
- S1 0.8496
- S2 0.8456
- S3 0.8423
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.