EUR/GBP can’t leave the consolidation range of 0.87-0.9020. It was formed in line with the “Spike and ledge” pattern.
EUR/GBP: bulls ordered a crab
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.
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%.
On the daily chart, bears are in control. They are still hoping to push the pair to 200% target of AB=CD.
Bearish Ichimoku Cloud with falling Senkou Span B; a cancelled golden cross of Tenkan-sen and Kijun-sen.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.
GBP/JPY broke support level 141…
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…