It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
EUR/GBP: the euro is stronger
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.
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.
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
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