-
EURGBP Two-Year Wedge Pattern Emerges
EURGBP has been in rally mode since mid-2015. After reaching a multi-year low at 0.6930, the euro cross quickly bounced back, putting in a multi-year high in October 2016. However, you wouldn’t know the EURGBP is in an uptrend looking at the price action since July of 2016. For the last two and a half years, the euro cross has been range bound between 0.8300 support and 0.9300 resistance. But we have a new structure in play since the November 2018 low. It seems EURGBP has carved a wedge pattern that is best viewed on the weekly time frame. You can see how the pair has struggled for the last few weeks around 0.9030. ... (full story)
