USD/JPY: market tests Cloud’s support
Bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen.
EUR/GBP: bulls tricked their rivals
Recommendation:
BUY 0.8810
SL 0.8755
TP1 0.8910 TP2 0.8940 TP3 0.9015
On the daily chart, EUR/GBP bulls managed to seize the initiative and return the pair inside the previous medium-term consolidation range of 0.8695-0.9015. A break of resistance at 0.8810 will trigger the “Shark” pattern with a target at 88.6%. It’s located near 0.8940.
On H1, EUR/GBP formed a “Shakeout – Fakeout” pattern. The return of the pair to the middle of the 0.8690-0.8755 range points at the weakness of bears and allowed bulls to expect that the “Shark” pattern will be triggered soon.
Ivan Karamazov
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