It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
EUR/GBP: bulls aim for a breakthrough
TP1 0.9090 TP2 0.92 TP3 0.9730
On the daily chart, EUR/GBP can’t leave the consolidation range of 0.87-0.9020. It was formed in line with the “Spike and ledge” pattern. An advance above the upper border of the “ledge” will increase the odds of getting to 161.8% target of AB=CD.
On H1, EUR/GBP is in a sustainable uptrend. In a situation like this, it’s better to buy on the break of the key resistance levels or on a fading correction.
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
The New Zealand dollar seems to be tipping out against the USD. Will that be another full cascade downwards?
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