Chart Of The Day: EUR/GBP

Published 09/01/2021, 05:37 PM
Updated 07/09/2023, 06:31 AM
EUR/GBP
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EUR/GBP Daily Chart.

On Aug. 25, EUR/GBP was the Chart of the Day, with a bull flag setting up. I was wrong about the setup – not about the price action. The market is breaking higher, and testing stops above the .8600 level and a move towards the 200-day moving average below the .8700 seems possible now. Instead of a bull flag pattern, it looks like a bullish pennant. Dips are shallow and being bought, which is a characteristic you want in a bullish move.

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