Oil suffered from the volatility this week…
EUR/GBP: bulls prepare a counterattack
TP1 0.8975 TP2 91
On the daily chart, pin bar stopped the bulls’ attack for some time. Never the less, as long as the quotes are above the upper border of the uptrend, chances for the formation of a “Dragon” pattern are still high. To begin with, buyers should renew high at 0.9020.
On H1, EUR/GBP keeps forming a “Crab”. Pullbacks to 50% of the last bullish wave with the following rebound of the uptrend channel’s lower border will be a signal for opening long positions.
There isn't any reversal pattern so far. If the 21 MA acts as resistance, we're likely going to have just another decline...
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are returned to the support of Tenkan and Kijun and may go higher.
Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.