GBP/JPY has been moving up since the start of January. The pair broke out of a bullish flag and reached new highs in the 145.00 area.
EUR/GBP: buy the EUR
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.
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.
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...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...