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).

usd gbp

Anastasia Mileshkina

Similar

19.04.2019 12:34 USD/CAD: 55 Moving Average acting as support

There's a bullish 'Hammer', which has been confirmed by the following 'Three Methods' pattern. In this case...

cad

19.04.2019 08:55 USD/CHF: price to test nearest support

The market has been rising since the last 'Pennant' pattern formed. However, there's a 'V-Top' pattern, which has been confirmed...

chf

18.04.2019 12:17 GBP/USD: 144 MA acting as resistance

There're bearish patterns such a 'Shooting Star' and an 'Engulfing', which both have been confirmed...

gbp

Latest news

08.08.2018 14:30 EUR/USD: local 'V-Top' pattern

The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...

eur

17.01.2018 08:12 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