EURGBP - Ending wedge warns of exhaustion

16 Tem 2019

EURGBP
EURGBP
EURGBP
EURGBP

EURGBP - Intraday - We look to Sell a break of 0.8955 (stop at 0.8990)

Bespoke support is located at 0.8962. Buying pressure from 0.8955 resulted in all the initial daily selloff being recaptured. Due to an Ending Wedge formation, we continue to treat extended gains with caution. The trend of higher highs is located at 0.9020. The trend of lower highs is located at 0.8960. The formation has a measured move target of 0.8872. A break of 0.8955 is needed to confirm follow through negative momentum. Intraday signals are far from strong.

Our profit targets will be 0.8875 and 0.8825

Resistance: 0.9000 / 0.9020 / 0.9100
Support: 0.8955 / 0.8950 / 0.8872