Thu, Feb 09, 2023 @ 12:12 GMT
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EUR/GBP Is This A False Breakout?

Price increased a little today and tries to recover after the yesterday’s minor drop. EUR/USD is retesting the median line (ml) of the ascending pitchfork, a false breakout above this obstacle will send the rate down again. Technically, the pair was somehow expected to climb to retest the 1.1910 resistance and the upper median line (uml) of the minor descending pitchfork. Could still develop a Head and Shoulders pattern if will stay below the mentioned resistance levels.

MultiBank Exchange Group
MultiBank Exchange Group
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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