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EUR/GBP Attracted By Confluence Area

EUR/GBP drops after the retest of the median line (ML) of the major ascending pitchfork. We had two false breakouts above the ML, so the current drop is understandable. Is attracted by the confluence area formed between the 100% level with the third warning line (wl3). The next major downside target will be at the lower median line (LML) of the ascending pitchfork.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
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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