The EURGBP cross in the hourly chart shows an Ending Diagonal pattern which calls for declines. As says the theory, the bearish divergence indicates not only the exhaustion of the previous movement; it's also indicative of the presence of a wave 3 and 5.
You can read more about this and other EW trading setups in our post "Understanding Corrective Waves – Part II – Triangles and Trading Setups."
You can read more about this and other EW trading setups in our post "Understanding Corrective Waves – Part II – Triangles and Trading Setups."
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