EUR/GBP Could See A Reversal Near 0.8600
Gregor Horvat | Sep 20, 2016 03:48AM ET
EUR/GBP keeps moving higher, but into some very strong resistance level at 0.8590-0.8600 where distance of wave C) equals to wave A). That's normally the most important point for a completion of corrective structures. As such, we need to be aware of a bearish reversal especially if we also consider that wave C) can be an ending diagonal which is a very strong reversal pattern, thus bears can be very powerful once they show up.
EUR/GBP, H1
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