FX.co ★ Technical Analysis of Intraday Price Movements of the EUR/GBP Cross Currency Pair Tuesday, 06 December 06 2022.

With the emergence of deviation in the price movements of the EUR/GBP cross currency pair with the CCI indicator and the formation of the Bullish 123 pattern followed by the appearance of Ross Hook (RH) on the 4-hour chart, practically EUR/GBP has the potential to appreciate upwards to the 0.8634 level as a target. especially and if the momentum and volatility are sufficiently supportive, it is possible that the 0.8675 level will be the next target to be tested but before that happens it seems that EUR/GBP will be corrected downwards for a moment where the level to be tested is the Bullish Fair Value Gap area and/or or the Bullish Orderblock level is at the 0.8579 level but if the correction to fall below it still continues to break below the 0.8569 level then it is very likely that the Bull scenario described earlier will cancel and become invalid by itself.

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