GBP/CAD is insatiable
GBP/CAD has broken above the ascending triangle, which is now providing support in the 1.7100/1.7060 area.
EUR/GBP: the euro strengthens
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.
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.
Ivan Karamazov
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Latest news
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GBP/CAD has broken above the ascending triangle, which is now providing support in the 1.7100/1.7060 area.
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EUR/NZD has been descending since the middle of October when it recoiled down from the resistance line connecting 2015 and 2018 highs.
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