Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
EUR/GBP: bulls grip a straw
2019-11-11 • Updated
TP1 0.8980 TP2 0.9020 TP3 0.9070
On the daily chart, EUR/GBP is consolidating within a bullish channel. A break of its lower border near 0.8740 will increase the risks of the pair going to 200% target of AB=CD. On the other hand, bears’ inability to let the pair below the diagonal support will allow bulls to resume the uptrend.
On H1, EUR/GBP keeps forming the “Head and shoulders”. To continue the rally, the pair needs to break above resistance at 0.8890.
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