EUR/GBP: bulls retreat, but don’t give up
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Recommendation:
SELL 0.8875
SL 0.893
TP1 0.8775 TP2 0.8715 TP3 0.869
On the daily chart of EUR/GBP, bears failed with their attack on the support of the lower border of the medium-term consolidation range of 0.8690-0.9015. Sellers retain hopes for a break and formation of the AB=CD pattern.
On H1, a break above resistance levels at 0.8780 and 0.8810 will increase the risks of triggering Gartley pattern with a target at 78.6% of the wave XA. From this area (0.8870-0.8880), there is a high possibility of aggressive selling by large players.
