EUR/GBP Technical Analysis: Doji makes today’s close pivotal
- EUR/GBP created a doji candle yesterday, signaling indecision in the market place. As a result, the bullish view put forward by the falling channel breakout, confirmed earlier this week as per the daily line chart, stands neutralized.
- A close today below 0.8636 (Doji low) would validate the signs of indecision and confirm a bearish doji reversal.
- The falling wedge breakout would be revived if the cross closes today above 0.8682, invalidating the doji candle created yesterday.
- The probability of bullish close would rise if the bull flag seen on the 15-minute chart is breached to the higher side. That would create room for a rise to 0.8720 (target as per the measured move method).
Daily candlestick chart
Daily line chart