EUR/GBP rising inside impulse waves 3 and (3)

EUR/GBP rising inside impulse waves 3 and (3)

  • 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).


EURUSD: bearish "High Wave"

We could have a local downward correction towards the nearest support. If a pullback from this area happens...


Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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