Forex: GBP EUR Evolution:
The EURGBP pair presents the naked eye a flat trend with a slight rise. However, you can also detect a triangle that seems to break so you can expect a consolidation trend.
Test the rupture is possible to provide a level close to the 1.1788 target but must be produced to confirm the known pullback that accompanies this kind of figures.
The pullback at the beginning the price would drop to levels close to 0.8631 and then take a sharp rise. This should occur in the short term and if you look at the RSI indicator can be expected this effect, as it marks 68.61 close to the critical level of 70. If this is complemented with an analysis of the moving averages you can see that currently the average of 5 is higher than 12 so it’s still not seen a sell signal, but how are you have delays tools should be followed closely evolution.
Another factor to examine is the volume as they are worthless if the figures do not accompany.