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EUR/GBP Analysis, Chart, and Trading Idea

Analytics for EUR/GBP Forex pair, based on complex analysis of modified waves, Fibonacci levels and price channels



The downward wave structures are truncated. The support level of 0.8668 curbs the sellers. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator indicates the oversold state.


Trading idea:

Buy at the formation of the ascending wave structure, where the (A) wave breaches the level of 0.86756 (Pivot 2 of the descending truncated structure).

Stop-Loss under the local minimum of the downtrend structure 0.86680.

Target price levels: 0.8690, 0.8710.

Author: GC
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