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EUR/GBP Breakout Targets Complete; More Upside Preferred

Published 02/10/2016, 06:33 AM
Updated 07/09/2023, 06:31 AM

EUR/GBP Daily ChartEUR/GBP DAILY

The rate has completed both - the symmetrical triangle 100% breakout target and the 61.8% breakout target from the larger inverse head and shoulders pattern.

My immediate outlook is higher still for the completion of the 100% breakout target around 0.8050 - a level which also may coincide with the long term major falling trendline resistance.

A break below 0.7500 would invalidate my immediate bullish bias.

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