The pair’s continuing the overall downtrend since October as it breached down the wedge earlier this month.
EUR/GBP is in the corridor
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.
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”.
USD/SGD has rebounded from the 50-week MA (1.3520) and is now retracing November-January decline.
If this week the Aussie closes in the negative area, it will continue towards the lower levels in line with the long-term downtrend.
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...