Canadian retail sales showed a slight rebound in February, rising by 0.1% after a 0.3% drop in January. However, this failed to fully offset the steeper decline earlier in the year, suggesting a weakening momentum in consumer spending. The increase in February was driven by gains in sectors such as sporting goods, hobby retailers, and building materials. Despite the...
EUR/GBP: bears are attacking
2019-11-11 • Updated
Recommendations:
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.
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