USD/TRY has moved sharply down this week falling to the support line since the end of November.
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.
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...