The price action is displaying early signs of a potential bullish reversal, following the publication of the UK inflation numbers for September earlier today.
The MACD indicator is underpinning mounting bullish momentum while the price action appears to have already bottomed out at the major support level at 0.84250.
The first major test for the likely new uptrend would be at the 0.84600 resistance, which underscores the upper limit of the Double Bottom pattern and coincides with the Ichimoku Cloud.
The MACD indicator is underpinning mounting bullish momentum while the price action appears to have already bottomed out at the major support level at 0.84250.
The first major test for the likely new uptrend would be at the 0.84600 resistance, which underscores the upper limit of the Double Bottom pattern and coincides with the Ichimoku Cloud.
