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.  



GBP/USD is losing ground

On the daily chart, GBP/USD keeps correcting to the long-term uptrend. Bulls tried to return the pair inside the previous consolidation range of 1.3455-1.3615.

USD/CHF: franc is showing signs of live

USD/CHF is correcting to the long-term bullish trend. To break the trend, the pair has to get out of the uptrend channel and form a “Spike and reversal with acceleration”.

GBP/USD: pound may continue downtrend

Expanding bearish Ichimoku Cloud with falling Senkou Span A; a new cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market tested Kijuns’s resistance and returned to Monday’s lows.



Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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