EUR/GBP: bears are attacking

EUR/GBP: bears are attacking


SELL 0.8805

SL 0.886

TP1 0.874 TP2 0.8695 TP3 0.845

On the daily chart EUR/GBP, we see the continuation of the long-term consolidation in a range of 0.8695-0.9015 within the upward trend.  The break of its bottom line will increase risks of 200% target’s implementation of the AB=CD pattern.  To succeed, bulls have to hit the resistance at 0.8925.


On H1 of EUR/GBP, successful tests of the upward channel’s bottom line and support at 0.8805 may lead to the continuation of the sharp decline in the direction of 88.6% and 200% targets of “Shark” and AB=CD patterns.  



Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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