GBP/USD: pair consolidating under Moving Averages
There's a 'V-Bottom', which has been confirmed, so the market is likely going to test the closest resistance at 1.2658 - 1.2695...
EUR/GBP broke key resistance level 0.8860
- EUR/GBP broke key resistance level 0.8860
- Next buy target - 0.9000
EUR/GBP today broke above the key resistance level 0.8860 (which stopped the previous impulse waves (1), 1 and (i), as can be seen from the daily EUR/GBP chart below). The breakout of the resistance level 0.8860 continues the active impulse waves (iii), 3 and (3) – all of which belong to the sharp primary impulse wave ③ from last December. EUR/GBP can then be expected to rise to the next buy target at the next round resistance level 0.9000 (which reversed the previous correction in 2 in November).
Dmitry Chernovolov
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