Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
EUR/GBP rising inside impulse waves 3 and (3)
2019-11-11 • Updated
- EUR/GBP rising inside impulse waves 3 and (3)
- Next buy target - 0.8700
EUR/GBP continues to rise inside the minor impulse wave 3, which belongs to the intermediate impulse (3) from the middle of April. Both of the active impulse waves 3 and (3) started when the pair reversed up from the support zone surrounding the powerful, multi-month support level which has been reversing the price from last August, as can be seen below.
EUR/GBP is expected to rise to the next buy target at the resistance level 0.8700 (which reversed the earlier corrective wave (ii) in April).
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Let's dive into the latest developments shaping the global economic landscape. Good news first: the threat of an unprecedented US debt crisis has receded, as US lawmakers passed a bill to raise the debt ceiling and avoid a catastrophic default. Phew! But don't pop the champagne just yet, because storm clouds are still looming. High inflation, rising interest rates, and sluggish growth are challenges that have yet to disappear.
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