STOCKS: reversal chart patterns
There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
EUR/GBP: there's a 'V-Bottom' pattern
There's a 'V-Bottom' pattern, which led to the current upward price movement. The market has broken all Moving Averages lines, so there're a 'Triangle' and a 'Pennant' patterns. Thus, it's likely that the pair is going to reach the next resistance at 0.8767 - 0.8792 in the short term. If a pullback from this area happens thereafter, then bears will probably try to test the closest support at 0.8699 - 0.8681.
Sergey Logachev
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