EUR/GBP: buy the EUR

EUR/GBP: buy the EUR

Recommendation:

BUY 0.8945 SL 0.889 TP1 0.9045 TP2 0.906 TP3 0.91

On the daily chart of EUR/GBP, the first target of the "Wolfe Waves" pattern was implemented. Bulls need to update the December's maximum to continue moving towards the 88.6% and 113% targets of the "Shark" pattern. 

eurgbp_d.png

On H1, there is a short-term consolidation near the important level at 88.6% of the "Shark" pattern's CD wave.  Bulls need to stick above this level and break the resistance at 0.8945 to continue rising towards the 200% target of the AB=CD pattern. 

eurgbp_60.png

Similar

EUR/GBP: let's buy the euro

On the daily chart of EUR/GBP, after implementation of the "Wolfe Waves" and "Shark" (88.6%) patterns, there is a correction as a part of the "Shark" pattern's transformation into 5-0.

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Gold is correcting down after its previous advance. The metal is now trading below October high at 1243.35.

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...

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