EUR/GBP: bulls have control

EUR/GBP: bulls have control

Recommendation: BUY 0.8835 SL 0.878 TP1 0.893 TP2 0.907 TP3 0.917

On the daily chart of EUR/GBP, bulls have finally managed to bring the pair out of the consolidation range between 0.87 and 0.8835. The pair reached 78.6% target of the “Gartley” pattern. The continuation of the rally will lead to the transformation of the “Gartley” into the “Crab” pattern with the target at 161.8%.

EURGBP1.png 

On H1, EUR/GBP left the consolidation range and triggered AB=CD with a target at 161.8%. Pullbacks and rebounds from important support levels may be used for buying.

EURGBP2.png

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XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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