GBP/USD: pound will continue downtrend
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
EUR/GBP: fighting for the initiative
Recommendation:
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.
Ivan Karamazov
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Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with rising lines.
EUR/GBP: EUR has chances to fight against GBP
On the daily chart of EUR/GBP, bears couldn't break the support at 0.87 ( the bottom line of the longterm consolidation within the "Spike and ledge" pattern)
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