Chart Of The Day: EUR/GBP
Blake Morrow | Sep 01, 2021 05:37PM ET
On Aug. 25, EUR/GBP was the Chart of the Day, with a bull flag setting up. I was wrong about the setup – not about the price action. The market is breaking higher, and testing stops above the .8600 level and a move towards the 200-day moving average below the .8700 seems possible now. Instead of a bull flag pattern, it looks like a bullish pennant. Dips are shallow and being bought, which is a characteristic you want in a bullish move.
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