EUR/GBP: bulls are lifting their heads

EUR/GBP: bulls are lifting their heads

Recommendation:

BUY 0.9215

SL 0.916

TP 0.929 TP2 0.9355 TP3 0.942

On the daily chart, EUR/GBP keeps forming “Spike and reversal with acceleration”. Until the price falls below both trendlines, bulls will retain control of the situation. Their further movement up will increase the possibility of an advance towards 127,2%, 161.8%, 200% and 224% targets of AB=CD.

EG1.png 

On H1, a break above resistance at 0.9213 and the following triggering of the “Widening wedge” and the “Shark” patterns will increase the possibility of an advance to 0.9285-0.9290.

EG2.png

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On H1 of EUR/USD, bulls want to trigger “Wolfe waves” pattern with a target at the line 1-4. At the same time, if the pair doesn’t leave the downtrend channel, their plans will fail.  

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