There's a developing consolidation, but we've got a confirmed "Inverted Hammer" on the 55 Moving Average.
Daily Market Analysis
There's a diagonal triangle in wave (v) of [c], so wave 2 may be ended. In this case, we're likely going to have wave (i).
The price is consolidating between the levels 1.2678 - 1.2634. Also, there's a "Pennant" pattern.
There's a "Double Top", which has been confirmed. Therefore, bears are likely going to reach the closest support.
GBP/USD broke support zone Next sell target - 1…
EUR/GBP reached buy target 0…
We've got a pullback from 8/8 MM Level, so wave iv ended on the one-hour chart.
There isn't any bullish pattern so far, which means all last candles are bearish.
There's a new "Window", which was formed this morning. Also, we've got a "Belt Hold" pattern.
We've got a bullish "Thorn", so the price is consolidating. In this case, we should keep an eye on the nearest support at 1.2705.
We've got a "Rising Wedge", so the price formed a pullback from the 55 Moving Average, which led to the current consolidation.
On the daily EUR/USD chart bears failed to break support at 1…