EUR/GBP: bulls ordered a crab

EUR/GBP: bulls ordered a crab

Recommendation:

BUY 0.89

SL 0.8845

TP1 0.9 TP2 0.907 TP3 0.918

On the daily chart, EUR/GBP is retesting the upper border of the 0.87-0.89 consolidation range. If bulls manage to return the pair outside of it, the risks of advance to 161.8% of the “Crab” pattern will increase.

EURGBP1.png 

On H1, to resume the uptrend, EUR/GBP needs to get above resistance at 0.89. If this happens, bulls will manage to trigger the “Shark” pattern with targets at 88.6% and 113%. 

EURGBP2.png

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