EUR/GBP Morning Star Pattern Should Push the Price Up
The EUR/GBP has made a morning star pattern straight off W L3 camarilla pivot support. The price is retracing.
There is still a lot headline risk within the GBP basket. Nevertheless, the GBP has been excellent to trade lately and today I am paying attention to the EUR/GBP. We could see the price going for a retest of the POC zone. This could possibly set up new short trades. 0.8780-0.8815 is the area for possible rejections. Targets are 0.8762, 0.8662 and 0.8632 after the POC retest. Below 0.8632 the price will be strongly bearish with a possible retest of 0.8550 zone.
The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX