Technician

EURGBP Forecast: Is it Bottoming?

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FX:EURGBP   Euro / Libra Esterlina
21
EURGBP Technical Analysis:

1)We have reached the confluence of two main Fibonacci extension levels

1.618 for wave AB
1.271 for wave CD

2) A three drives pattern completes near the current levels.
3) The EURGBP is testing the main long term descending support

Note that this is a counter trend idea and that makes it riskier to trade..

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