Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen.
EUR/GBP: pound is taking the initiative
TP1 0.8665 TP2 0.8525 TP3 0.844
On the daily, EUR/GBP bears managed to lead the pair outside of the long-term uptrend channel. As a result, the odds of the pair reaching 200% target of AB=CD increased. A successful test of support at 0.8693 is a necessary condition for the decline.
On H1, EUR/GBP keeps forming the “Head and shoulders” pattern. The retest of resistance at 0.8765 (used to be a support) may be used for forming short positions.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with expanding channel Tenkan-Kijun.
On the daily chart, bulls are trying to return USD/CAD inside the long-term uptrend channel.
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...