EUR/GBP is in the corridor

EUR/GBP is in the corridor

Recommendation:

SELL 0.8810 SL 0.8865 TP1 0.871 TP2 0.845

BUY 0.8925 SL 0.887 TP1 0.9015 TP2 0.907

On the daily chart, EUR/GBP keeps consolidating within “Spike and ledge” pattern. We will be able to speak about the uptrend’s resumption if the pair rises above resistance at 0.9015. On the other hand, a break of support at 0.8740 will increase of correction towards 200% target of AB=CD.

EURGBP1.png 

On H1, EUR/GBP is making a retest in line with “Head and shoulders” pattern. We can’t exclude the possibility of a “Widening wedge”.

EURGBP2.png

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