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 - bulls - 5:0
TP1 0.859 TP2 0.852 TP3 0.845
On the daily chart, EUR/GBP keeps forming 5-0 and “Spike and ledge” patterns. The pair got out of the medium-term channel (0.87-0.9015) and triggered the junior AB=CD pattern. Its 200% target is near 0.8520. A bit closer (0.8450) is the 200% target of the senior AB=CD.
On H1, EUR/GBP after a short consolidation in the 0.8690-0.8755 area bears returned the initiative to themselves and continued pulling the euro down towards 161.8% target of the “Crab”.
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...