EUR/GBP: bears are drawing a wedge

EUR/GBP: bears are drawing a wedge

Recommendation:

SELL 0.8885

SL 0.894

TP1 0.8825 TP2 0.8795 TP3 0.8745

On the daily chart, EUR/GBP keeps consolidating within “Spike and ledge” on the basis of 1-2-3. Bulls tried to break to its upper border near 0.9015 but were then pulled off to the starting positions. Currently, the pair is fighting for an important level of 38.2% of the bullish medium-term wave.

EURGBp1.png 

On H1, EUR/GBP bears got a chance to form the reversal pattern “Widening wedge”. If they use it, the risks of correction towards 50% and 61.8% of the last bullish wave and lower will increase.

EURGBP2.png

Similar

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

USD/CAD may be capable of more

USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick.

Latest news

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera