EUR/GBP: bulls count on a wedge

EUR/GBP: bulls count on a wedge

2019-11-11 • Updated

Recommendations:

BUY 0.922 SL 0.9165 TP 0.932

BUY 0.9235 SL 0.918 TP 0.9335

On the daily chart, EUR/GBP is in sustainable uptrend within “Spike and reversal with acceleration”. As long as the pair doesn’t fall to 0.9068, bulls will retain total control of the pair.

GBP1.png  

On H1, EUR/GBP is forming a “widening wedge” pattern. Return of the pair to point 3 will end the process and allow to form longs. More aggressive traders can use the break of the upper border of the trend channel as a signal for opening long positions.

GBP2.png

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