EurGbp looks like it will perform a wave up when looking at the current structure and the indicators.
However a break of the lower range will confirm a sell. So basicly EurGbp is showing options for a
bullish or bearish entry. Personally I am with the bulls given the current structure and setup of the indicators. But I will sell if the lower range breaks.
Since it can be traded both ways I give this setup a Neutral.
Also alot will depend on the French elections that are being held this sunday. If the anti-EU "populists" don't win then the Euro will show a nice boost.
However a break of the lower range will confirm a sell. So basicly EurGbp is showing options for a
bullish or bearish entry. Personally I am with the bulls given the current structure and setup of the indicators. But I will sell if the lower range breaks.
Since it can be traded both ways I give this setup a Neutral.
Also alot will depend on the French elections that are being held this sunday. If the anti-EU "populists" don't win then the Euro will show a nice boost.