Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising Kijun-sen.
EUR/GBP: bears prepare a trap
SELL 0.882 SL 0.8875 TP1 0.8735 TP2 0.867 TP3 0.845
SELL 0.8855 SL 0.891 TP1 0.8755 TP2 0.867 TP3 0.845
On the daily chart, EUR/GBP keeps medium-term consolidation in the 0.8700-0.9015 range in line with the “Spike and ledge” pattern. A break of its lower border will create grounds for the decline to 200% of AB=CD.
On H1, the “Shark” pattern is transforming into 5-0 after the pair reached 88.6% target of the former. Pullbacks towards 50% and 61.8% of the wave CD are usually used for selling.
Narrow bullish Ichimoku Cloud with falling Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.
GBP/JPY broke support level 141…
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…