EUR/GBP: fighting for the initiative

EUR/GBP: fighting for the initiative


SELL 0.8645 SL 0.87 TP1 0.8555 TP2 0.852 TP3 0.8455

BUY 0.8795 SL 0.874 TP1 0.8895 TP2 0.893

In the daily chart of EUR/GBP, the inability of bulls to reach resistance at 0.88, conquer it and trigger the “Shark” pattern pointed at their weakness. Bears returned the initiative and are ready to reach 200% targets of the junior and senior AB=CD.


On H1 of EUR/GBP, only a break of resistance at 0.8795 will allow bulls to count on the formation of the inverted “Head and Shoulders” and the “Shark”. On the other hand, a decline below support at 0.8645 will open the way down for the pair.



XAU/USD: a short-term trade

Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.

Latest news

The outlook for the GBP

The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

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