Double Bottom w/ Break of Confirmation!! - EG
Here I have EUR/GBP on the Daily chart!
The Lows @ .83972 & .83827 seem to have found enough Support in this Zone since its last visit back in the summer of 2022!
After BOE decided to cut their Interest Rates to 5% on Thursday, we see the end of the week gave us quite a Bullish close above the Lower High @ .8490 CONFIRMING the Double Bottom Reversal Pattern!!
With the:
-Divergence of Price vs RSI @ Level of Support
-Break of Structure from LL to HH
-and Price on RSI Above 50
*All that's left is to wait for Price to retrace back down to the .8490 area where the Break of Confirmation of Pattern happened for some potential Buy Opportunities!!
The Lows @ .83972 & .83827 seem to have found enough Support in this Zone since its last visit back in the summer of 2022!
After BOE decided to cut their Interest Rates to 5% on Thursday, we see the end of the week gave us quite a Bullish close above the Lower High @ .8490 CONFIRMING the Double Bottom Reversal Pattern!!
With the:
-Divergence of Price vs RSI @ Level of Support
-Break of Structure from LL to HH
-and Price on RSI Above 50
*All that's left is to wait for Price to retrace back down to the .8490 area where the Break of Confirmation of Pattern happened for some potential Buy Opportunities!!
Novi_FIbonacci
Telegram - t.me/+l3fTcsZu91ZiZDkx
Telegram - t.me/+l3fTcsZu91ZiZDkx
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