The EURGBP is currently trading around the lower boundary of an Accumulation range, as postulated by the Wyckoff cycle theory.
This range would likely serve as an intermediate stage before the beginning of a new uptrend.
The three Fibonacci retracement levels outline the crucial targets for such an uptrend.
Any traders looking to go long around the current price level should consider placing stop-loss orders below the lower boundary of the Accumulation range.
This range would likely serve as an intermediate stage before the beginning of a new uptrend.
The three Fibonacci retracement levels outline the crucial targets for such an uptrend.
Any traders looking to go long around the current price level should consider placing stop-loss orders below the lower boundary of the Accumulation range.
