EURGBP has proven to be a very complex chart pattern.
Given the very overlapping price action I believe we are dealing with a corrective pattern as shown by the numerous ABC (three wave) formations. Overall, I guess this is a WXYXZ pattern that currently is trapped in between a support and resistance zone (red boxes).
My belief is that as long no significant economical changes happen this pair will continue to show choppy price action but for now I see a potential for higher prices.
Good luck and happy trading!
Given the very overlapping price action I believe we are dealing with a corrective pattern as shown by the numerous ABC (three wave) formations. Overall, I guess this is a WXYXZ pattern that currently is trapped in between a support and resistance zone (red boxes).
My belief is that as long no significant economical changes happen this pair will continue to show choppy price action but for now I see a potential for higher prices.
Good luck and happy trading!