EUR/GBP: the euro strengthens

EUR/GBP: the euro strengthens

2019-11-11 • Updated

Recommendation: BUY 0.892 SL 0.8865 TP1 0.902 TP2 0.9055 TP3 0.9075

On a daily chart of EUR/GBP, bulls almost reached the target of the “Wolfe Waves” pattern. The rise of the pair towards the upper border of the 0.87-0.902 consolidation range and the 88.6% target of the “Shark” pattern is likely to continue.

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On H1, the sellers could not hold the pair within the downward channel. It shows their weakness. If the pair breaks the resistance at 0.891-0.892, it will go upwards to the 88.6% and 261.8% targets of the “Shark” and AB=CD patterns.

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