EUR/GBP: bulls are pursuing a crab

EUR/GBP: bulls are pursuing a crab


SELL 0.8715

SL 0.8770

TP1 0.8615 TP2 0.8590

On the daily chart, EUR/GBP keeps forming a 5-0 pattern. After a pullback to 38.2% of the wave CD of the “Shark” pattern, the initiative returned to bears. At the moment, the inside bars are formed. They point at uncertainty.


On H1, EUR/GBP is consolidating in the 0.8715-0.8755 range. A break of its lower border will create grounds for a “Crab” pattern with a target of 161.8%. On the other hand, successful test of resistance at 0.8755 will increase the risks of a correction.



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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