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).



EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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