EURGBP: Falling Wedge Pattern

EURGBP, Daily

In the Daily timeframe, the EURGBP formed a falling wedge pattern. The price reached the upper trend line and MA50. Parabolic SAR indicates a possible upside, and DeMarker is out of oversold territory, although the overall trend remains bearish.

• A break of the trend line and MA50 above 0.8330 will open the way to 0.8440;

• A bounce off the trendline will drop EURGBP to 0.8230;