EUR/GBP REVERSAL | ASCENDING WEDGE / RSI DIVERGENCE / 61.8% FIB

13 Nis 2020

Technical Analysis

• RSI Divergence
  
• RSI Symmetrical Triangle
  
• 61.8% Fibonacci Retracement
  

Fundamental Analysis

• The correction in global equity markets is beginning to weaken, signs of a reversal are showing.
  
• During the recent equity market crash, and also the 2008 Financial Crisis, EUR outperformed GBP (EUR/GBP rose)
  
• During the recent equity market correction, EUR/GBP fell and corrected
  

VERDICT: Both fundamental & technical analysis supports the expectation for EUR/GBP to resume it's uptrend

13 Nis 2020

Not

Closer look at the RSI Divergence

13 Nis 2020

Not

Closer Look At Equities Correlation

13 Nis 2020

Not

UPDATE: I Just noticed I accidentally labeled this idea as short rather than long. Apologies.

20 Nis 2020

Not

Potential Double Bottom