GBP/CAD reached sell target 1…
EUR/GBP reached buy target 0.9100
- EUR/GBP reached buy target 0.9100
- Next buy target - 0.9200
EUR/GBP continues to rise inside the minor impulse wave (iii), which earlier reversed up from the round support level 0.9000 (former strong resistance level which stopped the previous minor impulse wave (i) in the middle of July, as can be seen from the daily EUR/GBP chart below). The price today reached the resistance level 0.9100 (which was set as the buy target in our previous forecast for this pair). EUR/GBP is expected rise to next buy target at the next resistance level 0.9200.
We've got a pullback from 7/8 MM Level on the one hour chart, so wave [v] of C may have been formed. The price is declining in wave (iii) of [i].
The 34 MA has acted as support, so the price is consolidating. Meanwhile, the pair is likely going to test the closest resistance.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.