EUR/GBP: EUR has chances to fight against GBP
Read the article on FBS website
Recommendation:
BUY 0.891
SL 0.8855
TP1 0.9 TP2 0.902 TP2 0.9055
On the daily chart of EUR/GBP, bears couldn't break the support at 0.87 ( the bottom line of the longterm consolidation within the "Spike and ledge" pattern). As a result, the "Wolfe waves" pattern was implemented and there are clues on the "Shark" pattern's implementation.
On H1, a break of the upper boundary of the downward channel signaled the bulls' strength. To keep the rally towards the 88.6% target of the "Shark" pattern, they need to break the resistance at 0.891.
