The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
EUR/GBP is tired of corridors
On the daily chart, EUR/GBP has been stuck in the 0.87-0.9015 range for the last 6 months within the senior “Spike and ledge”. Since the end of April, it’s forming a junior “Spike and ledge” pattern on the basis of 1-2-3 in the 0.87-0.8835 range. Only if the pair leaves this range, it will find further direction.
On the daily chart, EUR/GBP bears managed to return the pair inside the 0.87-0.8835 range. If it’s breached, the pair will trigger the “Widening wedge”.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…