EUR/GBP: the euro is stronger

EUR/GBP: the euro is stronger

2019-11-11 • Updated

Recommendation:

BUY 0.8885

SL 0.883

TP1 0.8965 TP2 0.902 TP3 0.9055

On the daily chart of EUR/GBP, bears couldn’t pull the pair below the bottom line of the long-term channel of 0.87-0.902, it signals their weakness. Up to now, bulls are trying to implement the “Wolfe waves” pattern.

eurgbp_d.png

On H1, the pair has been reaching targets of “Bat” and “Wolfe waves” patterns. To pull the pair to the 88.6% target of the “Bat” pattern and higher, bulls need to break the resistance at  0.8885.

eurgbp_60.png

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