EUR/GBP can’t leave the consolidation range of 0.87-0.9020. It was formed in line with the “Spike and ledge” pattern.
XAU/USD: bears got in a trap
TP1 1242 TP2 1250 TP3 1273
On the daily chart, XAU/USD is correcting to the long-term uptrend. Bears are trying to form a “Shark” pattern with a target at 113% located at 1183. Gold may recover from this point.
On H1, XAU/USD formed a “Spike and ledge” on the basis of 1-2-3. If the break of the lower border of 1218-1235 is false, the price’s return to its middle will trigger the “Shakeout-Fakeout” pattern. The “Crab” pattern with a target at 161.8% will help bulls.
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…