EUR/GBP: bulls dream about surfing

EUR/GBP: bulls dream about surfing

Recommendations:

BUY 0.8895 SL 0.884 TP1 0.8995 TP2 0.9075

SELL 0.8770 SL 0.8825 TP 0.8670

On the daily chart, the “Shark” pattern is transforming into 5-0. Return to 50% of the wave CD may be a reason for buying. On the other hand, a break of support levels at 78.6% and 88.6% of the wave CD will increase the risks of odds of a decline.

EURGBP1.png 

On H1, there are conditions for triggering “Wolfe waves” pattern with the following formation of a “Shark” pattern. At first, bulls need to conquer resistance at 0.8895 (high of the bar which marked the previous low).

EURGBP2.png

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