Gold will continue to consolidate
On the daily chart, we expect the price of gold to fluctuate sideways within the Symmetrical Triangle with resistance and support marked by the blue line.
EUR/GBP rising inside intermediate impulse wave (3)
- EUR/GBP rising inside intermediate impulse wave (3)
- Next buy target - 0.9240
EUR/GBP continues to rise after the earlier upward reversal from the support zone lying between the support level 0.9070 and the support trendline of the sharp narrow daily up channel from the middle of July. This daily up channel is enclosed by the wider daily up channel from March – indicating the strengthening of the bullish pressure on this currency pair. EUR/GBP is expected to rise to next buy target at the next resistance level 0.9240 (target price for the completion of the active intermediate impulse wave (3)).
Dmitry Chernovolov
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