EUR/GBP: bulls are resuming the trend

EUR/GBP: bulls are resuming the trend

2019-11-11 • Updated

Recommendation:

BUY 0.8990

SL 0.8935

TP1 0.9075 TP2 0.9200

On the daily chart, EUR/GBP is forming the “Dragon” pattern. The first condition of its realization is the return of the pair inside the previous short-term uptrend channel. A successful test of resistance at 0.8980 will be the signal.

EURGBP1.png  

On H1, EUR/GBP formed a widening wedge pattern. Return of the pair to support at 0.8800 with the following successful test is a signal for selling. On the other hand, successful test of resistance at 0.8990 will open way to the north for bulls.

EURGBP2.png  

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