Euro / Libra Esterlina
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EUR/GBP REVERSAL | ASCENDING WEDGE / RSI DIVERGENCE / 61.8% FIB

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Technical Analysis
  • RSI Divergence
  • RSI Symmetrical Triangle
  • 61.8% Fibonacci Retracement


Fundamental Analysis
  • The correction in global equity markets is beginning to weaken, signs of a reversal are showing.
  • During the recent equity market crash, and also the 2008 Financial Crisis, EUR outperformed GBP (EUR/GBP rose)
  • During the recent equity market correction, EUR/GBP fell and corrected


VERDICT: Both fundamental & technical analysis supports the expectation for EUR/GBP to resume it's uptrend


Nota
Closer look at the RSI Divergence
snapshot
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Closer Look At Equities Correlation
snapshot
Nota
UPDATE: I Just noticed I accidentally labeled this idea as short rather than long. Apologies.
Nota
Potential Double Bottom
snapshot

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