EUR/USD: bearish 'Engulfing' pattern
The market is likely going to test the nearest support at 1.1730. If a pullback from this level forms next, bulls will probably try to...
EUR/GBP reversed from resistance zone
- EUR/GBP reversed from resistance zone
- Next sell target - 0.8630
EUR/GBP continues to fall inside the intermediate impulse wave (3) – which started earlier from the resistance zone lying between the resistance level 0.8800 (previous buy target), upper daily Bollinger Band and the 61.8% Fibonacci retracement of the previous sharp extended downward impulse from last October. The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Dark Cloud Cover.
EUR/GBP is expected to fall to the next sell target at the support level 0.8630 (former strong resistance level which reversed the previous minor correction 2 in February).
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Anastasia Mileshkina
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