EUR/GBP: the euro is haunting a «Shark»

EUR/GBP: the euro is haunting a «Shark»

2019-11-11 • Updated

Recommendations:

BUY 0.8835

SL 0.878

TP1 0.8895 TP2 0.894 TP3 0.9015

On the daily chart of EUR/GBP, the implementation of the junior “Shark” pattern with the 88.6% target continues. The target is located near 0.8940. To continue the upward movement, bulls need to stick above an important level of 0.8805 (50% from the middle-term upward wave) and renew May highs.

GBP1.png

On H1, bears cannot hold the pair below the bottom line of the uptrend that signals bears' weakness. A break of the resistance at 0.8835 will let bulls to move up.

GBP2.png

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