EURGBP 240 long – channel breakout
Updated
There has been a DT channel with 96% regression fit since 12 Aug 2019. Although it happened once before in this channel (8 Oct 2019), it looks like a solid breakout of the upper side of the channel. Also saw test and support at the SR 0.84906.
Based on this I will be looking for a shift to an UT. Here it is on the 1D where you can see the whole channel.
Based on this I will be looking for a shift to an UT. Here it is on the 1D where you can see the whole channel.
Note
The channel breakout may or may not have been a fake out. There are now breaks in the RSI and PA trendlines. A valid bearish failure swing would imply we are not ready yet for a change to UT.
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