EUR/GBP: bulls are restoring authority

EUR/GBP: bulls are restoring authority


BUY 0.8940

SL 0.8885

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.




USD/TRY has moved sharply down this week falling to the support line since the end of November.

Trade ideas for gold

The downside correction is long due in XAU/USD. Gold is stuck ahead of resistance at 1298.50.

Latest news

GBP/USD: confirmed "Thorn" pattern

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...


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