USD/TRY has moved sharply down this week falling to the support line since the end of November.
EUR/GBP: bulls are restoring authority
TP1 0.9040 TP2 0.9100
On the daily chart, EUR/GBP is trying to break out of the medium-term descending channel. This is a bullish signal. Formation of the “Double bottom” pattern points at the uptrend’s resumption.
On H1, a break of resistance at 0.8940 and triggering of an inverted “Ideal butterfly” will increase the odds of reaching a 127.2% target. At the same time, in case of the break of 88.6% of the wave 4-5 a “Widening wedge” will be formed.
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...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...