FX.co ★ EUR/GBP New wave upward (Daily Signal)

About a week and half the euro-sterling pair managed to get up to the main trend line of the pair, around 0.8920, but failed to get through and immediately began a decline to minimum levels of 0.8650. From this point the pair began to stabilize and even started a new upward wave that, from a technical perspective, you can easily get to the area earlier peak around 0.8900. Current price levels are low enough to take buy position on the pair, in order to achieve the bullish wave, which is supposed to push the euro - pound sterling at least until the resistance level of 0.8870.

Also continued upward to the trend line passing through the 0.8900 price level could create an interesting opportunity bearish potential sale to the previous lows. In this case, use the 0.8720 support level as a target for output short position.