EURGBP building momentum for reversal after long consolidation

١٤ ديسمبر ٢٠٢٣

Following this long consolidation period, EURGBP has had multiple significant impulsive movements. There is still a valid bullish OB @ 0.85898 but since the FVG above has been fulfilled, it could penetrate this level and fill the FVG below. The bullish OB @85615 has yet to be retested and since it is accompanied by a significant FVG, I have every confidence that this will be the next target. I have identified a bearish parallel channel that I expect to be broken at either OB.