EUR/GBP: bulls control the situation

EUR/GBP: bulls control the situation

Recommendation:

BUY 0.8905

SL 0.885

TP1 0.8965 TP2 0.9005 TP3 0.92

On the daily chart of EUR/GBP, after a plenty of attempts, bulls have managed to pull the pair out of the upper boundary of the 0.87-0.89 consolidation. Bulls are going to continue the upward movement to the 161.8% target of the AB=CD pattern.

eurgbp_d.png

On H1, there is the “Spike and reversal with acceleration” pattern. Bulls control the situation. That’s why rebounds from important support levels should be used for buying.

eurgbp_60.png

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