EURGBP ---> #3

Good day, dear investors and colleagues traders!

Your attention an analytical review: #EURGBP / # EURGBP3

• Theme : The bearish picture didn’t work, the euro tries the bullish scenario.

Technical analysis:


H1 (Technical) -H4 (indicative).
The currency pair continues to be in the global upward channel and the local upward channel.
The main resistance zones are 0.9000, 0.9030 and 0.9050. Support zones are 0.8940-0.8920.

Indicative analysis provides the following information:

1. The currency pair is in the neutral zone in terms of overbought / oversold.
2. The indicator of price behavior showed a sell signal, the price returned to an adequate zone, in relation to the 4-day trend.

The most probable_scripts (Week-2):

At the moment, there are several main scenarios in the pair:

I. (Bullish, most likely now).

If the local channel is kept up, the currency pair will be able to develop movement with targets at 0.9030 and 0.9050, potentially up to 0.9100.

II. (Bearish, technical change needed).

In case of leaving below the local channel up. The euro will test 0.8940-0.8920, potentially the currency pair may drop to 0.8886.

III. (A likely scenario, in cases of lack of volatility in the markets).

The pair can be clamped in the trading range: 0.9000-0.8867.

Global Variables:

• Volatility: Weekly = 70 points // Monthly = 78 points // Quarterly = 78 points.
(The inversion of volatility is over);

• Trends:
SMA (50,100) began their growth - last week.
SMA (200) continues to decline.

• Range Ratio: 150 points (Reduction from 161 points).

Best regards to followers,
"Wermelgion & Partners"

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