EUR/GBP: bulls control the situation
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 have defended the fortress
Recommendation:
SELL 0.8700
SL 0.8755
TP1 0.8600 TP2 0.8450
On the daily chart, EUR/GBP tested the lower border of the 0.8740-0.9015 for the fourth time since September. The inability of bears to continue what they have begun will point at their weakness. On the other hand, if the pair renews January low, the odds of decline to 2% target of AB=CD will increase.
On H1, EUR/GBP managed to lead the pair outside of the descending trade channel. To return the initiative, bears need to make the euro go below support at 0.8740.
Ivan Karamazov
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