Hello,
We had a double bottom on EURGBP and now the market structure has switched to an uptrend.
We have broken the resistance (also the neckline of the double bottom), so we can expect a retest before going up again. Also, the GBP seems to be weaker than EUR right now so it can help EURGBP going up.
We have some room to go up too which is an important thing to notice.
I will wait for the price to comeback on this yellow zone and will look for a buy setup on lower timeframe.
We had a double bottom on EURGBP and now the market structure has switched to an uptrend.
We have broken the resistance (also the neckline of the double bottom), so we can expect a retest before going up again. Also, the GBP seems to be weaker than EUR right now so it can help EURGBP going up.
We have some room to go up too which is an important thing to notice.
I will wait for the price to comeback on this yellow zone and will look for a buy setup on lower timeframe.