FX.co ★ EUR/GBP

Hello traders, Today on the daily chart of the currency cross rate EUR/GBP, we see the second consecutive forming bullish candle, as well as a potential lower fractal at the level of 0.8616. All of this is happening against the backdrop of the asset's previous local oversold condition. All these factors suggest a resumption of the pair's price growth and the completion of a truncated southern zigzag "abc" with a small final wave "c". If this is the case, confirmation of this conclusion will be a re-entry of the pair's quotes above the MA200 trend line. Until then, the possibility of the asset's descending trend continuation remains. Another indirect sign of the beginning of an ascending trend in the asset's development will be today's update of the previous day's high (at the level of 0.8653). The current daily high is currently at 0.8649, very close to this level. In any case, the decline of the asset has paused. Now we are watching for the possibility of its growth.