British pound breakout soon?
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
EUR/USD is preparing to a break
2019-11-11 • Updated
Recommendation:
SELL 1.2245 SL 1.23 TP1 1.2145 TP2 1.208 TP3 1.1965
BUY 1.2415 SL 1.236 TP1 1.2515 TP2 1.2615 TP3 1.2715
On the daily chart, EUR/USD is consolidating in the 1.2245-1.2415 range. A break below the lower border of the range will allow bears to pull the pair to 127.2% of the violet AB=CD. On the other hand, advance above resistance at 1.2415 will increase the odds of advance to 127.2% target of the green AB=CD.
On H1, EUR/USD keeps forming the junior “Widening wedge”.
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