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.
EUR/GBP: bulls don’t lose hope
TP1 0.8975 TP2 0.9015 TP3 0.9075
On the daily chart, EUR/GBP keeps consolidating between 0.8740 and 0.9015. A condition needed for the uptrend’s resumption is for the pair to return inside an uptrend channel. On the other hand, if the pair renews December low, the odds of it going to 200% target of AB=CD will increase.
On H1, there are conditions for the formation of the “Head and shoulders”. Successful of resistance close to the neckline at 0.8840-0.8850 will open the way to the upside to bulls.
On the daily chart of EUR/USD, the downward triangle is forming.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled golden cross of Tenkan-sen and Kijun-sen, the lines are horizontal.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.
GBP/JPY broke support level 141…
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…