EUR/GBP: euro and pound are pulling the rope

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.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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