Technical Analysis

EUR/GBP Testing A Confluence Area


EUR/GBP increased sharply and resumed the minor rebound. Is pressuring the confluence between the minor downtrend with the median line (ML) of the major ascending pitchfork. A valid breakout through the confluence area and above the 0.9000 psychological level will accelerate the bullish momentum. Another drop will be confirmed by a rejection, followed by a minor drop.

Author: MultiBank Exchange Group Website:
MultiBank Exchange Group
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.
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