EUR/GBP: pound is talking to Indians

EUR/GBP: pound is talking to Indians

Recommendation:

SELL 0.8945

SL 0.9000

TP1 0.8845 TP2 0.8785 TP3 0.8745

On the daily chart, the inability of bulls to lead EUR/GBP outside of the long-term trading range of 0.87-0.902 points at their weakness. If bears manage to bring the pair to the middle of the consolidation range, a “Shakeout-Fakeout” pattern will be triggered. The chances of uptrend’s reversal will increase.

EURGBP daily.png 

On H1 of EUR/GBP, a combination of “Three Indians” and 1-2-3 gives a powerful signal about the potential reversal. To begin with, bears need to pull the pair below an important support of 0.8945.

EURGBP h1.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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