Recommendation: BUY 0…
EUR/GBP: bulls dream about surfing
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.
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).
USD/JPY has posted slight gains in the first half of past week as political tumult over Trump's obstruction of justice subsided…
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…