EURGBP: Decisive moment
The next move will confirm what lies ahead:
For the time being, price is above the long term fair accepted price, which is bullish, but to confirm uptrend continuation from here we need to break above the resistance from the previous downtrend signal's mode, as well as break out from the channel, to confirm the move is a larger impulse series.
The uptrend target was almost reached, but there is lots of time left in the timer, so it might either reverse steeply down from here, or continue to rise after a brief cooldown.
Will update when I get a trade signal out of this chart.
Cheers,
Ivan.
For the time being, price is above the long term fair accepted price, which is bullish, but to confirm uptrend continuation from here we need to break above the resistance from the previous downtrend signal's mode, as well as break out from the channel, to confirm the move is a larger impulse series.
The uptrend target was almost reached, but there is lots of time left in the timer, so it might either reverse steeply down from here, or continue to rise after a brief cooldown.
Will update when I get a trade signal out of this chart.
Cheers,
Ivan.
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