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 want more
TP1 0.8925 TP2 0.894 TP3 0.902
On the daily chart, EUR/GBP keeps consolidating in the 0.8700-0.9015 range. At the same time, there’s a “Spike and kedge” pattern on the basis of 1-2-3. A break of the upper border of the ledge near 0.8850 will increase the odds of realization of 88.6% and 113% targets of the “Shark”. On the other hand, a successful test of support at штурм 0.87 will open the way down.
On H1, to continue rising EUR/GBP needs to overcome resistance at 0.8825.
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…