EUR/GBP is tired of corridors
Read the article on FBS website
On the daily chart, EUR/GBP has been stuck in the 0.87-0.9015 range for the last 6 months within the senior “Spike and ledge”. Since the end of April, it’s forming a junior “Spike and ledge” pattern on the basis of 1-2-3 in the 0.87-0.8835 range. Only if the pair leaves this range, it will find further direction.
On the daily chart, EUR/GBP bears managed to return the pair inside the 0.87-0.8835 range. If it’s breached, the pair will trigger the “Widening wedge”.
