10 Feb 2016

EUR/GBP BREAKOUT TARGETS COMPLETE - MORE UPSIDE PREFERED

EUR/GBP DAILY

The rate has completed both - the symmetrical triangle 100% breakout target (original trade idea - here) and the 61.8% breakout target from the larger inverse head and shoulders pattern (original article here)

My immediate outlook is higher still for the completion of the 100% breakout target around 0.8050 - a level which also may coincide with the long term major falling trendline resistance.

A break below 0.7500 would invalidate my immediate bullish bias.




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