By Admiral Markets
The EUR/USD is building a falling wedge reversal chart pattern at the 23.6% Fib support at 1.17 and offers both a breakout and bounce setup. The GBP/USD bearish momentum was strong but price is now building a correction. The bullish retracement could be pullback of a larger downtrend and price could face resistance at the 38.2-50% Fib around 1.3125-1.3150.
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Many green pips,
Chris Svorcik
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Article by Admiral Markets
Source: EUR/USD Falling Wedge and GBP/USD Bear Impulse
Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.
