EUR/GBP: bears prepare a trap

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.




Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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