EUR/GBP on its way to levels above 0.90

EUR/GBP on its way to levels above 0.90

EUR/GBP is trying to send some Fibonacci signals in order to trade it. Currently, it’s riding a bullish structure started a couple of weeks ago and the retracement could be taken as a correction. Such move could be go as long as the 0.8867 level, at which is located the Fibonacci retracement level of 50%, where a demand zone has been established.

If the pair manages to rebound above that area, then we might expect a bullish continuation towards the -23.6% Fibonacci level around 0.9052 for the short-term. To confirm this scenario, EUR/GBP needs to break above 0.8993. RSI indicator remains in the positive territory.

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GBP/USD: pound entered into channel Tenkan-Kijun

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.

gbp

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