EURGBP moving side ways at the moment but it is a bullish move.
Analysis
- The current sideways movement might be correcting the impulse which ended around the 0.87189 level.
- If so then the current structure looks complex to be a triangle or a complex (w-x-y) correction.
- I will invalidate my triangle analysis if price breaks below the 0.85648 level.
- If price breaks above the sub (B) wave of wave C I will consider growth.
- The current sideways movement might be correcting the impulse which ended around the 0.87189 level.
- If so then the current structure looks complex to be a triangle or a complex (w-x-y) correction.
- I will invalidate my triangle analysis if price breaks below the 0.85648 level.
- If price breaks above the sub (B) wave of wave C I will consider growth.