EUR/GBP: bulls prefer a harmonic trading

EUR/GBP: bulls prefer a harmonic trading

2022-05-17 • Updated

Recommendations:

BUY 0.884

SL 0.8785

TP1 0.8895 TP2 0.894 TP3 0.9015

On the daily chart of EUR/GBP, the reversed “Shark” pattern with the 88.6% target (50% from the long-term upward wave) is continuing to implement. It corresponds to the 0.894 mark. Bulls managed to stick above the important level of 0.881. If the pair is able to break the May high, EUR/GBP will continue its upward movement.

eurgbp_d.png

On H1, there are “Shark”, “Head and shoulders”, and “AB=CD” patterns. 88.6% and 224% targets of “Shark” and “AB=CD” patterns determine the area of the convergence near 0.894.

eurgbp_60.png

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