EUR/GBP Trendline Breakout Might Have Been a False One
EUR/GBP broke under a near-term rising trendline from April back in early July.
While the Euro weakened after the breakout, it seems that the single currency is trying to make a comeback.
Prices were unable to break under the 100-day Simple Moving Average. This means the Golden Cross with the 50-day line is still in play.
Breaking above the 50-day line from here could be a hint that further gains may come. Such an outcome would place the focus on highs from June.
Otherwise, further losses would place the focus on lows from April.
While the Euro weakened after the breakout, it seems that the single currency is trying to make a comeback.
Prices were unable to break under the 100-day Simple Moving Average. This means the Golden Cross with the 50-day line is still in play.
Breaking above the 50-day line from here could be a hint that further gains may come. Such an outcome would place the focus on highs from June.
Otherwise, further losses would place the focus on lows from April.
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