The Euro Pound.

Good morning Dynamic Traders,

Todays chart for the watchlist is of the EURGBP, and is today having a push northwards although for me has not got the confluences to take a trade as yet, and is tagging the V.I. at the time of writing.

On closer inspection, we can see that a possible 123 may have beeen in progress, with the divergence occurring before the low of the middle of June and then a tag of the fibonacci reversal area in early August.

However as previous resistance is so close with the former R/S zone and V.I. and figure, wait for direction should the consolidation get broke, but bear in mind a move north would be against the trend, but could still happen should the current obstacles be overcome.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.