EUR/GBP: a good chance for the euro

EUR/GBP: a good chance for the euro

Recommendation:

BUY 0.882

SL 0.8765

TP1 0.891 TP2 0.8955 TP3 0.8965

On the daily chart of EUR/GBP, the long-term consolidation within 0.87-0.902 is continuing. The pair will keep falling and will reach the 161.8% target of the AB=CD pattern if only it breaks the support at 0.87.

eurgbp_d.png

On H1, to reach targets of the “Wolfe waves” patterns, the pair needs to break the resistance at 0.882 and reach targets of the “Bat” pattern. Its 88.6% target is near 0.8965.

eurgbp_60.png

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Latest news

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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