Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
EUR/GBP: bulls are restoring authority
2019-11-11 • Updated
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.
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