EURGBP | AUG 21 2016 | WEEKLY:
Technically, we expect continue to climb towards 0.8830 levels, tested and bounce of it later.
In the medium term, we have two bearish Harmonic patterns.
ab=cd bearish (developed by Scott Carney): C @ 0.50AB and D @ 2.00 BC.
XABCD bearish Crab pattern under construction (developed by Scott Carney): B @ 0.500 XA, C @ 0.886AB and D @ 3.618 BC + D @ 1.618 XA
pattern targets (If the construction of the two patterns is complete):
1st target @0.382 of AD (xabcd) + 0.382 of BC (ab=cd).
2nd target 0.618 of AD (xabcd) +0.618 of BC (ab=cd).
In the medium term, we have two bearish Harmonic patterns.
ab=cd bearish (developed by Scott Carney): C @ 0.50AB and D @ 2.00 BC.
XABCD bearish Crab pattern under construction (developed by Scott Carney): B @ 0.500 XA, C @ 0.886AB and D @ 3.618 BC + D @ 1.618 XA
pattern targets (If the construction of the two patterns is complete):
1st target @0.382 of AD (xabcd) + 0.382 of BC (ab=cd).
2nd target 0.618 of AD (xabcd) +0.618 of BC (ab=cd).
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