EUR/GBP can’t leave the consolidation range of 0.87-0.9020. It was formed in line with the “Spike and ledge” pattern.
EUR/USD: euro ready to going lower
Technical levels: support – 1.1730; resistance – 1.1770.
- Sell — 1.1750; SL — 1.1870; TP1 — 1.1700; TP2 – 1.1680
Reason: narrow bearish Ichimoku Cloud, but horizontal Senkou Span A and B; a strong dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the prices are tested the Cloud’s resistance and ready to continue a downtrend.
On the daily chart, bears are in control. They are still hoping to push the pair to 200% target of AB=CD.
Bearish Ichimoku Cloud with falling Senkou Span B; a cancelled golden cross of Tenkan-sen and Kijun-sen.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.
GBP/JPY broke support level 141…
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…