EUR/GBP: the bullish pressure continues

EUR/GBP: the bullish pressure continues

Recommendation:

BUY 0.907 SL 0.9015 TP1 0.917 TP2 0.922 TP3 0.93

On the daily chart of EUR/GBP, there is the transformation of the "Shark" pattern into the 5-0 one. Due to this transformation, bulls plan to move the pair out of the consolidation range between 0.87 and 0.902, which is formed as a part of the "Spike and Ledge" pattern. The update of the December's maximum will increase the odds of the rise towards the 127.2% target of the AB=CD pattern. 

eurgbp_d.png

On H1, bears' inability to hold the pair within the borders of the upward channel shows their weakness.

eurgbp_60.png 

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