EUR/GBP
Looks like EUR/GBP downtrend has run its course, and a reversal might be on the cards.
At the price quote of 0.84761, indicators are now showing that this pair is currently oversold. A bullish shark pattern looks complete, confluent with a bullish AB-CD pattern, and the 0.786 FIB retracement of the monthly up-swing. It seems like a good time to go long.
Targets to take profit would be most importantly the resistance line, and the 0.5 retracement of the High-Low swing, confluent with the 0.382 of the larger Fib levels, at approximately 0.862.
Further targets to take profit, would be the 0.618, 0.786 and 1.00 levels as well.
Stop losses should generally be set under the 0.84 price levels, although a tighter stop loss could also be placed at 0.8430.
Good luck.
At the price quote of 0.84761, indicators are now showing that this pair is currently oversold. A bullish shark pattern looks complete, confluent with a bullish AB-CD pattern, and the 0.786 FIB retracement of the monthly up-swing. It seems like a good time to go long.
Targets to take profit would be most importantly the resistance line, and the 0.5 retracement of the High-Low swing, confluent with the 0.382 of the larger Fib levels, at approximately 0.862.
Further targets to take profit, would be the 0.618, 0.786 and 1.00 levels as well.
Stop losses should generally be set under the 0.84 price levels, although a tighter stop loss could also be placed at 0.8430.
Good luck.
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