Yesterday, we recognised the potential for GBP crosses to rise on account of the uptrend reversal pattern on the daily EURGBP chart after price hit a confluence zone of long-term support turned resistance (0.7755-0.7770). In case you missed it, check out yesterday's post. Price is currently below the 20-day EMA @ 0.7550 and GBPUSD is currently up 150 pips from its intraday low. We're looking for a close below 0.7550 in EURGBP after tomorrow's BOE rate announcement to confirm the new trend and t…
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