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EUR/GBP Trading in Consolidation Mode
Consolidation: The overall mode EUR/GBP is in, is a sideways, consolidation range roughly between 0.8636 and 0.8397. The market is twisting and turning within these boundaries. If we don’t count the spike to 0.8636, a more common resistance is around the 0.86 handle. As we get into the 6/12 session, the EUR/GBP appears to be in the middle of the range. There are trendlines, consolidation structures within these noted boundaries, (as seen in the 4H chart), including a newly developing falling channel within a triangle, but those are not significant. These lines, such as the rising support that just held in the 4H ... (full story)