EUR/GBP: bears seized the initiative

EUR/GBP: bears seized the initiative


SELL 0.8820

SL 0.8875

TP1 0.8745 TP2 0.8715

On the daily chart, EUR/GBP keeps consolidating in line with the “Spike and ledge” pattern on the basis of 1-2-3. The attempt of the bulls to hold at 0.8925 targeting 161.8% of the junior AB=CD failed. As a result, bears seized the initiative.


On H1, EUR/GBP reached the target of the “Widening wedge”. A break of support at 0.8820 will increase the risks of a “Shark” pattern with a target at 88.6%. The nearest resistance is near 0.8875.



EUR/USD: euro updated lows

Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.


Latest news

GBP/USD: confirmed "Thorn" 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...


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