On the daily chart, EUR/GBP is making a long-term consolidation in the 0.87-0.9015 range within a “Spike and ledge” pattern on the basis of 1-2-3. Within it, the pair formed a medium-term consolidation range of 0.87-0.89.
EUR/GBP: euro and pound are pulling the rope
BUY 0.8905 SL 0.8850 TP1 0.8975 TP2 0.9015
SELL 0.8855 SL 0.8910 TP1 0.8785 TP2 0.8695
On the daily chart, EUR/GBP keeps long-term consolidation in the 0.8695-0.9015 range. Until the pair gets out from the narrow range, traders should focus on strategies with small targets.
On H1, to continue the rally EUR/GBP bulls should conquer resistance at 0.8905 and return the pair inside the uptrend channel. On the other hand, a decline of the euro below support at 0.8855 will increase the risk of the pair going to 88.6% target of the “Shark” pattern.
On the daily chart, EUR/USD keeps consolidating in the 1.1515-1.1815 range. Bulls keep hoping to form a “Dragon” and a “Crab”.
Irregular bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
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…