EUR/GBP Rounding Bottom Uptrend Continuation

May 02, 2017 14:16

The EUR/GBP has formed a rounding bottom shaped pattern at the support and is rejecting from W H3 camarilla pivot. 0.8435-50 is POC zone (D L3, ATR pivot, EMA 89, 50.0, trend line) and rejection from POC could target 0.8510. Have in mind that if target is reached, the pair could possibly spike to 0.8550 during next few days. This bullish scenario is negated if the pair drops and stays below 0.8400, rounded bottom low.

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