EUR/GBP: let's buy the euro

EUR/GBP: let's buy the euro

Recommendation: 

BUY 0.8935 SL 0.888 TP1 0.902 TP2 0.909 TP3 0.915

On the daily chart of EUR/GBP, the implementation of the "Wolfe Waves" and "Shark" (88.6%) patterns was followed by the correction as a part of the "Shark" pattern's transformation into 5-0. The reversals towards 23.6%, 38.2%, 50% from the CD wave can be used to open long positions. 

eurgbp_d.png

On H1, the pair moved down after reaching the 200% target of the AB=CD pattern and the 88.6% target of the "Shark" pattern. The rebound from the supports at 0.8925-0.8935 and 0.887-0.8875 will help the pair to rise.

eurgbp_60.png 

Similar

GBP/CAD is insatiable

GBP/CAD has broken above the ascending triangle, which is now providing support in the 1.7100/1.7060 area.

EUR/CAD is ready for a move

EUR/CAD has formed a couple of higher lows since October. The pair has managed to overcome the 50- and the 100-day MAs at 1.4588 and 1.4640 respectively.

Latest news

GBP/CAD is insatiable

GBP/CAD has broken above the ascending triangle, which is now providing support in the 1.7100/1.7060 area.

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