EUR/GBP: euro and pound are pulling the rope

EUR/GBP: euro and pound are pulling the rope

Recommendations:

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.  

EURGBP1.png 

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.

EURGBP2.png

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EUR/GBP: euro is walking in corridors

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.

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EUR/USD is hunting bats

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”.

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EUR/USD: euro hung on Tenkan-Kijun

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.

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