EURGBP: Close Look

EURGBP, H4

On the H4, EURGBP has formed a falling wedge pattern. The price fell towards the lower trend line with the MA50 crossing the MA100, indicating the possibility of a decline. However, the MACD is pointing to the possibility of a rise!

• A break of the lower trendline below 0.8510 will drop the price to 0.8440;

• However, if the price breaks the upper trendline above 0.8545, it will open the way to 0.8615;