NZD/JPY has performed well this month forming higher lows and highs. It was supported by the 50-day MA in July and took off from that level.
EUR/GBP: pound is chasing a bat
SELL 0.8775 SL 0.8830 TP1 0.8695 TP2 0.8635
BUY 0.8835 SL 0.8780 TP1 0.893 TP2 0.9015
On the daily chart of EUR/GBP, bears managed to seize the initiative and brought the pair to the lower border of the medium-term consolidation range (0.8695-0.9015). If the pair triggers the “Bat” pattern, the odds of it going to its 88.6% target at 0.8635 will increase.
On H1, if EUR/GBP retests the diagonal resistance in the form of the lower border of the uptrend channel and then return the initiative to bears, the odds of reaching 88.6% target of the “Bat” will increase.
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
GBP/JPY reversed from resistance zone Next sell target - 149…
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...