This article will analyze the possible scenarios for the EU, and what's more important, look at the charts. There is a lot to see, let's go!
GBP/USD: picture turned negative
2019-11-11 • Updated
TP1 1.2925 TP2, 1.2860
On the daily chart, there was a combination of the senior and junior “3 Indians” patterns. As a result, the pair fell to support at 1.3120. To develop correction, bears will have to return the prices to the middle of the previous consolidation range (1.2930-1.3120). In this case, the pair will trigger “Spike and ledge” pattern. On the other hand, recoil from these levels to the downside will allow the bulls to return the initiative.
On H1, if the prices break below support at 1.3105 and leave the uptrend channel, risks of a “Shark” pattern will increase.
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