FX.co ★ dare.jammie | EUR/GBP

Pair EURGBP.

The Vertex indicator on February 19, during the American trading session, signaled the overbought condition of the currency pair, leading to an active decline in quotes. The signal confirmation occurred today during the Asian trading session. The 200 and 50 period moving averages show a stable uptrend, but both moving averages have already crossed downwards from the top, which is favorable for selling and indicates buyer weakness. Sellers managed to form a 1-2-3 pattern, indicating their intention to push quotes downwards. Additionally, sellers were able to confirm the 1-2-3 pattern by breaking through the 0.87323 level, demonstrating their strength. In this situation, I will wait for the price to decrease to the weekly pivot at 0.87229, consolidate below it, and only then consider opening a sell position.