EURGBP – An Unusual Wedge

21 May - EURGBP Daily

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Hi all,

Just a quick update on EURGBP. This pair is currently in a consolidation mode and it currently has the shape between a descending triangle and a Wedge (see above). Call it what ever you want, a consolidation is a consolidation and I am waiting for price to break out of it before taking any trades.

Also to note is that price is still within the weekly price channel as mentioned on 3rd March (see article). Hence, my preference as well as bias would be a short continuation. Either way, I trade what I see and not what I think, so let’s see what we have in the near future.

Thank you for reading and happy trading!

 

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