Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
EUR/GBP: bears are attacking
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.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with rising lines.
On the daily chart of EUR/GBP, bears couldn't break the support at 0.87 ( the bottom line of the longterm consolidation within the "Spike and ledge" 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...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...