USD/TRY has moved sharply down this week falling to the support line since the end of November.
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.
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...