GBP/USD: pound will continue downtrend
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 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.
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.
Ivan Karamazov
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Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with rising lines.
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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)
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