rising wedge on euro pound

6 feb 2019

hey traders,

on europound we have a nice potential opportunity to sell the market.
As you see the market is very bearish, after it reached 0.862 level, we see a steady retracement.
Now we are approaching a decent level of resistance looking left.

Also, the marker coils in a rising wedge pattern.
I will be looking for a bearish violation of its support line to sell the market.



On the chart above, I highlighted a decision zone for you.
We need a decent violation of this zone for a breakout confirmation.

target is based on the market low.

good luck!

7 feb 2019

Nota

Attempt to break the wedge

8 feb 2019

Nota

We see a decent breakout

9 feb 2019

Nota

Retest of 0.874